On 8 December 2011, Treasury released its consultation paper concerning the development of governance arrangements for entities that are registered with the ACNC.
The consultation paper is available at:
The consultation process is intended to lead to the development of high-level principles-based mandatory requirements for all entities that are registered with the ACNC.
While those principles-based rules would apply across the sector, the level of regulation is intended to be proportional to:
the size of each entity;
the risks it presents by virtue of its activities; and
the level of government support that it receives.
The governance issues discussed in the consultation paper are:
- setting the duties and minimum standards of responsible individuals, including rules for proper organisational management and running of the entity;
disclosure requirements and managing conflicts of interest;
risk management including insurance requirements;
minimum requirements for an entity’s governing rules; and
relationships with members (including dispute resolution mechanisms).
If you would like to be involved in shaping these high-level principles-based mandatory requirements, we encourage you to make a submission. Treasury has invited interested parties to submit their comments about the reform by 20 January 2012.
You are welcome to consult us in relation to any submission you may wish to make. Or, if you have any questions about the proposed not-for-profit governance arrangements, please contact us.
Rick Harley, Adelaide +61 8 8414 3373 email@example.com
Antony Logan, Hobart +61 3 6210 6213 firstname.lastname@example.org
Darren Miller, Perth +61 8 9488 1300 email@example.com
Ian Miller, North Ryde +61 2 9804 5704 firstname.lastname@example.org
Anthony Morrissey, Sydney +61 2 9391 3023 email@example.com
Chris Osborne, Darwin +61 8 8924 2600 firstname.lastname@example.org