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CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) ACT 2006 - SECT 29.15 Pre - incorporation requirement

CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) ACT 2006 - SECT 29.15

Pre - incorporation requirement

  (1)   An Aboriginal and Torres Strait Islander corporation meets the pre - incorporation requirement if 75% of the persons listed in the application for registration as persons who consent to become members of the corporation on registration have:

  (a)   authorised the applicant to apply for the incorporation of the Aboriginal and Torres Strait Islander corporation; and

  (b)   approved the proposed constitution provided to the Registrar under subsection   29 - 20(2) as the constitution of the corporation; and

  (c)   if the internal governance rules that would apply to the corporation will include one or more replaceable rules--agreed to those replaceable rules so applying; and

  (d)   nominated, as persons who will become directors of the corporation, the persons specified in the application as persons who will become directors on registration; and

  (e)   if the application indicates that the corporation is expected to be a small or medium corporation in respect of the corporation's first financial year--nominated, as a person who will become a contact person of the corporation, the person specified in the application as a person who will become contact person on registration; and

  (f)   if the application indicates that the corporation is expected to be a large corporation in respect of the corporation's first financial year--nominated, as a person who will become the corporation's secretary, the person specified in the application as a person who will become the corporation's secretary on registration.

  (2)   The document evidencing the agreement under paragraph   (1)(c) must:

  (a)   refer by section or subsection number (as appropriate) to the replaceable rules that will apply without modification to the corporation; and

  (b)   set out the terms of the replaceable rules (if any) that are being modified or replaced by the proposed constitution.