CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) ACT 2006 - SECT 487.10 Show cause notice procedure

CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) ACT 2006 - SECT 487.10

  (1)   Subject to subsection   (2), the Registrar must, before determining that an Aboriginal and Torres Strait Islander corporation is to be under special administration:

  (a)   give the corporation notice in writing inviting the corporation to show cause, within a reasonable period specified in the notice, why the determination should not be made; and

  (b)   consider any representations the corporation makes to the Registrar within that period.

  (2)   Subsection   (1) does not apply if the Registrar is satisfied that the determination needs to be made as a matter of urgency to prevent:

  (a)   a likely loss of property of the corporation; or

  (b)   a likely loss of public money held or administered by the corporation; or

  (c)   conduct that would contravene:

  (i)   a provision of this Act or the regulations; or

  (ii)   a law of the Commonwealth or a State or Territory; or

  (d)   the corporation ceasing to provide, or suspending the provision of, services that are essential to, or very significant for, a particular community or group.

  (3)   Public money includes money that:

  (a)   has been granted to the corporation by:

  (i)   the Commonwealth, a State or a Territory; or

  (ii)   a public authority; and

  (b)   has been granted to the corporation on conditions.

  (4)   Without limiting paragraph   (2)(c), the conduct referred to in that paragraph may be conduct of:

  (a)   the corporation; or

  (b)   an officer of the corporation; or

  (c)   a body corporate related to the corporation; or

  (d)   an officer of a body corporate related to the corporation.

  (5)   If the Registrar:

  (a)   gives an Aboriginal and Torres Strait Islander corporation notice under subsection   (1); and

  (b)   decides not to proceed to determine that the corporation is to be under special administration;

the Registrar must give the corporation notice in writing, as soon as practicable after the decision is made, that the Registrar does not propose to determine that the corporation is to be under special administration.