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Governance and Regulations

Director ID Applications open November 2021 – Are you ready?

Further to our updates regarding the Director Identification Numbers, current Australian directors will now have one year to apply for their unique director identification number. Non-compliance can see $1.1 million in fines. The Australian Tax Office has just launched its Australian Business Registry Services website, enabling directors to now apply for their ID when applications…

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Helping your Board operate more effectively

The Not-for-Profit (NFP) sector is large and diverse and operates within a complex legal and regulatory framework. The duties of officers, directors and boards of NFP organisations are many and varied. The AssociationSpecialists (TAS) are proud to partner with Governance Institute of Australia to offer our clients access anddiscounted rates for leading governance training, to…

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Government Recognition – What you need to know

Why do Governments provide recognition to professions? Generally, Governments will only provide formal recognition to professions or industries wherethere is a public interest need. Typically, this may result in legislation and the oversight of aregulatory body, such as the Australian Not-for-Profits and Charities Commission (ACNC) or theAustralian Health Practitioner Regulation Authority (AHPRA). Governments will also…

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How NFP Governance is changing in Australia

Mills Oakley hosted a recent seminar on How NFP Governance is changing in Australia. We have included a recording of the seminar, however have also listed some key take aways below; Key Changes in Governance The growing importance of organizational culture; The shift to customer -centricity The need to consider other stakeholders’interests Increasing risks to…

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(DIN) Director Identification Number – What you need to know

The Australian Government has passed the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2019 (Cth). This Act introduces a new requirement under the Corporations Act 2001 that all Australian directors obtain and hold a unique Director Identification Number (DIN) issued and administered by ASIC. Current legislation does not require ASIC to verify the…

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Minute Taking – Best Practice

Minute taking and its significance in corporate and non-for-profit entities has been highlighted through the recent Hayne Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. As a basic yet crucial aspect of administration for businesses of all kinds, there has typically been a lack of attention paid to how it should…

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Company Limited by Shares or Guarantee – What’s the Difference?

Legal Vision has recently posted this important information on the differences between a Company Limited by Shares (Public or Proprietary) and a Company Limited by Guarantee. We feel it is important to understand each structure as it has a drastic effect to the functioning of your company. From Legal Vision: Company Limited by Shares A company limited by…

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Director Penalty Regime Extended to GST

A recent article from by Craig Whatman from Pitcher shed light on proposed penalties to be applied to directors when announcing bankruptcy as a means of holding directors accountable for engaging in phoenix activity. We felt it important to share their article to keep you aware of the changes and how they may affect you.…

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Are you affected by the EU General Data Protection Regulation?

Board members are often involved in both their association and full time work, and it can often be difficult to keep up to date with pertinent information on what is happening in the sector and what new policies might affect your organisation. Therefore, we have written this guide to help summarise the new EU General…

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Conference Convenor – Duty of Care

Whilst we acknowledge that conference committees are generally made up of volunteers motivated to provide benefits to members and third parties, the committee members need to be aware that they have an underlying duty of care to the organisation and members they are representing. Failure to meet the necessary duty of care could in extreme…

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