Throughout the year we assist clients with their corporate governance and regulatory compliance. The Australian Charities and Not-for-profits Commission (ACNC) has imposed new obligations on charities, in some cases in addition to existing reporting obligations. We often find that charities are not up to date with their ACNC lodgements. If you work for a charity, …
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It would be remiss of us to not mention the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, which has consumed much of media and news reports recently. Culture was the predominant theme of the Commission, and indeed its finding. Corporate culture, however, is probably the theme of the decade. An …
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A “Responsible Person” is a person that is responsible for governing a charity, for example a member of the board or committee or trustee of a charity. The Australian Charities and Not-for-profits Commission (ACNC) has high expectations on Responsible Persons and ACNC Governance Standard 4 is premised on the expectation that Responsible Persons governing a charity are …
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Welcome to 2018! It is set to be another interesting year ahead, as the Australian Open kicks off this week, we head towards the 2018 Winter Olympics in South Korea, we see the 2018 Commonwealth Games hosted in the Gold Coast, and we await the 2018 FIFA World Cup in Russia. It’s also the year …
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In addition to introducing “safe habour” legislation, the Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Act 2017 (Cth) places restrictions on ipso facto clauses. Ipso facto clauses are clauses that allow for termination due to insolvency. The Act limits the ability to enforce these clauses during periods of voluntary administration, receivership or schemes of …
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On Tuesday 12 September, the House of Representatives passed the Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Act 2017 (Cth), colloquially known as the ‘Safe Harbour Legislation’. The Act introduces protection for company directors from personal civil liability for insolvent trading under s 588G(2) of the Corporations Act 2001 (Cth). The Act was given …
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The importance of performance management to private employers and government departments cannot be overstated. Performance management is more than the process of evaluating and managing employees to ensure that the employer is meeting its obligations. The benefits to effectively managing employees can be wide-reaching to both employers and employees, especially when you consider the huge …
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A nomination committee’s role is to guide and advise the board of a company on matters relating to the composition, structure and operation of its board, as well as matters relating to the selection of senior executives. The main function of a nomination’s committee is to weaken the traditional strongholds within an organisation, when it …
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Minutes are a physical record of decisions made and actions agreed upon in a meeting, and are often relied upon for future reference. The Corporations Act 2001 (Cth) (the Act) states that “a minute that is so recorded and signed is evidence of the proceeding, resolution or declaration to which it relates, unless the contrary …
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The introduction of the Australian Charities and Not-for-profit Commission Act (ACNC Act) and the Australian Charities and Not-for-profit Commission Regulations (ACNC Regulations) on 3 December 2012 changed both directors and company obligations for charities in Australia. The ACNC Act established the Australian Charities and Not-for-profit Commission (ACNC) which has largely replaced the Australian Securities and …
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