Corporations (Aboriginal and Torres Strait Islander) Determination 1/2009

Administered by Department of the Prime Minister and Cabinet

Legislation au F2009L02631 Not in force Legislative Instrument

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EXPLANATORY STATEMENT

Corporations (Aboriginal and Torres Strait Islander)
Determination 1 / 2009

Summary

The Corporations (Aboriginal and Torres Strait Islander) Determination 1/2009 (the determination) is made under subsection 353-10(1) of the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (the Act) by the Registrar of Aboriginal and Torres Strait Islander Corporations. 

The determination exempts Aboriginal and Torres Strait Islander corporations from having to report certain trust and land information in their annual general report for the financial year ending 30 June 2009 and subsequent financial years.

Background

The revised explanatory memorandum of the Corporations (Aboriginal and Torres Strait Islander) Bill indicated that chapter 7 of the Bill implemented review recommendations that the Registrar be able to exempt classes of corporations from the reporting requirements. Chapter 7 enables flexible and responsive administrative practices. Reporting requirements can be adjusted for individual corporations or classes of corporations. Exemptions from the operation of the chapter can be given for specific corporations or classes of corporations.

The revised explanatory memorandum stated that ‘section 353-10 is based on section 341 of the Corporations Act and provides the Registrar with the power to relieve classes of corporations (or their directors or auditors) from the record keeping and reporting requirements of the chapter, including any regulations made for the purposes of chapter 7 of the Bill.’

Explanation of the provisions

Clause 1 specifies the title of the determination.

Clause 2 sets out commencement information for the determination. The determination takes effect the day after it is registered on the Federal Register of Legislative Instruments.

Clause 3 sets out the exemption.

Aboriginal and Torres Strait Islander corporations must prepare and lodge an annual general report containing required information. The determination exempts Aboriginal and Torres Strait Islander corporations from having to report the following required information in their annual general report:

  • if the corporation is a trustee of a trust — the name of, or other information identifying, the trust;
  • if the corporation has a subsidiary that is the trustee of a trust: the name of the subsidiary, and the name of, or other information identifying, the trust;
  • if a corporation is a beneficiary of a trust: the name of each trustee and the name of, or other information identifying, the trust;
  • if the corporation has a subsidiary that is a beneficiary of a trust: the name of the subsidiary, the name of each trustee, and the name of, or other information identifying, the trust;
  • if the corporation is the proprietor or registered proprietor of Torrens system land: the address of the land, the nature of the estate, a description of the land (including the lot and plan description, and title particulars of the land), and whether the land is held by the corporation in its own right or as trustee;
  • if the corporation is the legal owner or lessee of a freehold or leasehold estate in general law land: the address of the land, the nature of the estate, a description of the land (including the lot and plan description, and title particulars of the land), and whether the land is held by the corporation in its own right or as trustee.

The determination applies in respect of general reports prepared for the financial year ending 30 June 2009 and subsequent financial years.

The determination was made to reduce the reporting obligations on Aboriginal and Torres Strait Islander corporations.

Consultation

The Registrar did not consult because the Registrar is satisfied that consultation is unnecessary and inappropriate in this case. The determination reduces the reporting obligations on Aboriginal and Torres Strait Islander corporations. They will not be required to include certain trust and land information in their annual general report.

Regulatory Impact Analysis

The determination does not require a Regulatory Impact Statement or a Business Cost Calculator Figure.  The determination exempts regulatory requirements for Aboriginal and Torres Strait Islander corporations, will not impact on business activity and will have no, or minimal, compliance costs or competition impact. Their business compliance costs will be reduced.

Each year the Registrar sends out an individual general report form for all Aboriginal and Torres Strait Islander corporations to complete. The Registrar will send each corporation a new general report which omits questions about trusts and land. The Registrar will also prepare a new general report form and make it available generally on the Registrar’s website.


Legislative instrument

The determination is made in relation to all Aboriginal and Torres Strait Islander corporations. It is a class determination. Accordingly, under section 353-10(5) of the Act, the determination is a legislative instrument.

This is the first class determination made under section 353-10(1) of the Act.

Overview

The Corporations (Aboriginal and Torres Strait Islander) Determination 1/2009 was enacted to address the need for flexible and responsive reporting requirements for Aboriginal and Torres Strait Islander corporations under the Corporations (Aboriginal and Torres Strait Islander) Act 2006. This Act, introduced by the Australian Parliament, aims to provide a tailored regulatory framework for Aboriginal and Torres Strait Islander corporations, recognising their unique cultural and operational contexts. The determination was made under subsection 353-10(1) of the Act by the Registrar of Aboriginal and Torres Strait Islander Corporations, who was granted the authority to exempt such corporations from specific reporting obligations. The primary policy objective of this determination is to reduce the administrative burden on Aboriginal and Torres Strait Islander corporations by exempting them from reporting certain trust and land information in their annual general reports for the financial year ending 30 June 2009 and subsequent financial years. This reduction in reporting obligations is intended to alleviate compliance costs and encourage greater participation in the corporate reporting process.

Scope and Application

The Corporations (Aboriginal and Torres Strait Islander) Determination 1/2009, made under the Corporations (Aboriginal and Torres Strait Islander) Act 2006, provides an exemption for Aboriginal and Torres Strait Islander corporations from certain reporting requirements regarding trust and land information in their annual general reports. This determination applies to all Aboriginal and Torres Strait Islander corporations, exempting them from the obligation to disclose specific trust and land details as part of their annual reporting obligations. The scope of this determination extends to the financial year ending 30 June 2009 and subsequent years, effectively reducing the administrative burden on these corporations by eliminating the need to report on trustee identities, subsidiary relationships with trusts, and details of land ownership or leasehold interests. The determination was made by the Registrar of Aboriginal and Torres Strait Islander Corporations, and no consultation was deemed necessary as it directly benefits the target group by reducing compliance costs and simplifying their reporting processes.

Key Provisions

The Corporations (Aboriginal and Torres Strait Islander) Determination 1/2009 primarily focuses on the exemption of Aboriginal and Torres Strait Islander corporations from specific reporting requirements. Clause 3 of the determination states that these corporations are exempt from reporting certain trust and land information in their annual general reports. Specifically, this exemption includes not disclosing the name or other identifying information of a trust if the corporation is a trustee or beneficiary of that trust, or if a subsidiary is involved (section 353-10(1)). Similarly, if a corporation owns or leases Torrens system or general law land, it is exempt from providing details such as the address, nature of the estate, and description of the land in its annual report (section 353-10(2)). Under this determination, Aboriginal and Torres Strait Islander corporations must still prepare and lodge an annual general report, but they are relieved from the obligation to include the specified trust and land information (section 353-10(3)). The Registrar of Aboriginal and Torres Strait Islander Corporations is tasked with sending out the revised annual general report forms to these corporations, which will not include questions about trusts and land (section 353-10(4)). The Registrar will also update the general report form on their website to reflect these changes. There are no specific offences, penalties, or civil/criminal consequences outlined in the determination for failing to comply with these reporting exemptions. However, it is implied that the determination aims to reduce compliance burdens and costs for these corporations. The Registrar’s decision not to consult on this determination is based on the belief that it is unnecessary and inappropriate given the intent to alleviate reporting obligations without impacting business activities (section 353-10(5)). The Regulatory Impact Analysis suggests that this change will have minimal or no compliance costs and will not affect competition, further supporting the minimal regulatory burden on these corporations.

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Area of Law
Corporate Law & Governance
Instrument
Legislative Instrument
Concepts
Definitions & Interpretation
Reporting & Disclosure Obligations
Exemptions & Exclusions

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Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.