Why did the CATSI Act amend the Corporations Act?
The CATSI Act maximises alignment with the Corporations Act while it retains its purpose as a special measure for the benefit of Aboriginal and Torres Strait Islander corporations. The Corporations Act was amended by the Corporations Amendment (Aboriginal and Torres Strait Islander Corporations) Act 2006. These amendments are in their own Act because the Corporations Act is a special law which requires the agreement of the states and territories to be changed. These amendments remove duplication between similar provisions in the CATSI Act and the Corporations Act and ensure that officers disqualified from managing Indigenous corporations under the CATSI legislation will also be disqualified from managing mainstream corporations. The CATSI Act aligns with the Corporations Act in the following ways: It introduces the same duties for directors and officers under the CATSI Act. It ensures that there is no possibility of dual regulation of Aboriginal and Torres Strait Islander corporations
