Review process underway
16 August 2016
This notice is to inform you of the examination of the Gunaikurnai Land and Waters Aboriginal Corporation (GLaWAC) by the Office of the Registrar of Indigenous Corporations (ORIC).
The Registrar conducts an annual rolling program of examinations of approximately 30 to 40 of the 200 largest corporations. This aims to check the standards of corporate governance and financial management of the largest corporations at least once every three to five years.
Please be assured that you will be kept informed at all stages of this process.
The examination is a review of the corporate governance and financial management of the corporation. It checks if the corporation is being governed in accordance with its rule book and the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act).
It also checks that proper financial records are kept and that proper procedures are in place to manage the corporation’s financial affairs.
The examination began on Monday 15 August 2016.
We are aware that there is currently some uncertainty and dispute within the corporation as to who are the directors of the corporation. The examiners will review the relevant books of the corporation and speak to those that have claims to be a director, and then provide a recommendation to the Registrar.
Until the examination is completed there will be no significant decisions made regarding the staffing or governance arrangements or financial position.
It is business as usual.
Thank you for your support and understanding in this matter.