Regulated under the Office of Registrar of Indigenous Corporations (ORIC), SAC is governed by a Board of Directors.

 

The REGISTRAR is an independent statutory office holder who administers the Corporations (Aboriginal and Torres Strait Islander) Act 2006.

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The Registrar’s office supports and regulates corporations by:

• Advising on how to incorporate

• Training directors, members and key staff in good governance

• Ensuring compliance with the law

• Intervening when needed

(Registrar of Indigenous Corporations http://www.oric.gov.au/)

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The BOARD OF DIRECTORS role is to govern the Corporation on behalf of the Members. The Corporation staff support the Directors by carrying out the day-to-day administrative functions which are a normal part of an active corporation.

 

The Directors responsibilities include:

• control and set the direction of the corporation

• employ and supervise the Manager

• determine the staffing structure

• make the overall big decisions

• ensure the corporation follows its rule book and the law

• checks the corporation’s records are maintained and safe

• approve the strategic, business and risk management plans

• assess and approve membership applications

• ensure reports are correct and submitted to ORIC

• follow the corporation’s policies and procedures and, where necessary, update or arrange to make new ones

• understand and agree to the budget, and make sure that money is only spent in ways that meet the corporation’s objectives

• know the corporation’s financial position and ensure it has enough money to pay its bills; and

• most importantly, always act in the best interests of the corporation and its members