Probity is the evidence of ethical behaviour, and can be defined as complete and confirmed integrity, uprightness and honesty in a particular process. When dealing with government resources officials need to ensure proper use and management of public resources. Probity aims to identify the risks which can occur at any stage of a process and …
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The Director Identification Number is now in place. From 1 November 2021 new directors of companies must apply for a Director ID immediately, and existing directors need to confirm the deadline for their Director ID registration.
All company directors will soon be required to apply to ASIC to obtain their own unique Director Identification Number (DIN). The Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill (the Amendment), part of the Government’s legislative package to introduce the Commonwealth Registers Act, has now passed both houses of parliament. Pending royal assent, it …
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On 13 November 2019, the Australian Securities and Investments Commission (ASIC) released its updated regulatory guidelines on whistleblower policies and what it expects a policy to contain. ASIC requires that a whistleblower policy include: detail on who can make a disclosure both internally and externally; the types of wrongdoing that can be disclosed; details on …
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Many not-for-profit organisations are registered as an incorporated association. An incorporated association is governed by the legislation of the State or Territory in which they are registered. However, the other most common structure for a not-for-profit entity is a public company limited by guarantee. Every organisation operates differently and should consider the most appropriate structure …
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Whilst probity is not an exciting topic, it is a very important one and should be considered when undertaking any procurement process. As government agencies and departments increase their interaction with the private sector, clear, visible and meaningful commitments to fairness encourage more suppliers to engage in business with the public sector. As such, the …
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There are many changes to the laws and regulations commencing over the next 6 months. Here we summarise some of those key changes: PROPERTY Some lucky buyers will no longer have to pay stamp duty on properties purchased in the ACT. Stamp duty has been abolished on properties sold in the ACT from 1 July …
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Despite being 30 years old, organisations can still be confused about their obligations under the Privacy Act 1988 (Cth) (Privacy Act). Whether the Privacy Act even applies can be a minefield for sporting organisations such as sporting clubs, gyms, and governing bodies. Unfortunately, ignorance of the law excuses no one, and fines for a breach of the …
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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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