Commonwealth Numbered Acts Commonwealth Numbered Acts(1) On the registration of an Aboriginal and Torres Strait Islander corporation, the Registrar must register the corporation as a small, medium or large corporation.
Note: The classification determines the reports the corporation has to prepare (see Chapter 7) and whether or not the corporation must have a registered office and a corporation secretary.
(2) The Registrar may register the corporation as a small corporation only if:
(a) the application for registration indicates; or
(b) the Registrar is otherwise satisfied;
that the corporation is likely to be a small corporation in respect of its first financial year.
Note: Subsection 37‑10(1) sets out the criteria for determining whether the corporation is a small corporation for a particular financial year.
(3) The Registrar may register the corporation as a medium corporation only if:
(a) the application for registration indicates; or
(b) the Registrar is otherwise satisfied;
that the corporation is likely to be a medium corporation in respect of its first financial year.
Note: Subsection 37‑10(2) sets out the criteria for determining whether the corporation is a medium corporation for a particular financial year.
(4) The Registrar may register the corporation as a large corporation only if:
(a) the application for registration indicates; or
(b) the Registrar is otherwise satisfied;
that the corporation is likely to be a large corporation in respect of its first financial year.
Note: Subsection 37‑10(3) sets out the criteria for determining whether the corporation is a large corporation for a particular financial year.