What do corporations need to do to move to the CATSI Act?
A special Act was passed in the parliament to move ACA Act corporations across to the new system as seamlessly as possible—the Transitional Act (Corporations (Aboriginal and Torres Strait Islander) Consequential, Transitional and Other Measures Act 2006). On 1 July 2007 all corporations incorporated under the ACA Act became corporations under the CATSI Act. The Transitional Act will maintain the existing legal status, office bearers, assets and liabilities of all ACA Act corporations. This will minimise the administrative burden on corporations while providing certainty of operation for corporations, their members and stakeholders. Corporations need to: find out what size they are under the CATSI Act. See ‘How big is big?’— the April 2007 edition of ORIC’s newsletter, The Oracle understand their new reporting requirements for 2008–09, depending on their size (they continue to report as they did under the ACA Act for 2007–08) start putting their Indigenous Corporation Number (ICN) on th
