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CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) ACT 2006 - SECT 310.5

Exemption from certain provisions of this Chapter

             (1)  On an application made in accordance with subsection (3) in relation to an Aboriginal and Torres Strait Islander corporation, the Registrar may make a determination in writing exempting any of the following from the exemptible provisions of this Chapter specified in the Registrar's determination:

                     (a)  the corporation itself;

                     (b)  the directors of the corporation.

Note:          For the criteria for making determinations under this section, see section 310-20.

             (2)  For the purposes of this section, the exemptible provisions of this Chapter are:

                     (a)  section 243-5; and

                     (b)  subsection 246-25(2); and

                     (c)  the provisions of Part 6-6.

             (3)  The application must:

                     (a)  specify the exemptible provisions in relation to which the exemption is being sought; and

                     (b)  be authorised by a resolution of the directors; and

                     (c)  be in writing and signed by a director; and

                     (d)  be lodged with the Registrar.

             (4)  The determination may:

                     (a)  be expressed to be subject to conditions; and

                     (b)  be indefinite or limited to a specified period.

             (5)  The Registrar may, in writing, revoke, vary or suspend the determination.

             (6)  The Registrar must give the applicant written notice within 28 days of the making, revocation, variation or suspension of the determination.

             (7)  A determination under subsection (1), or a revocation, variation or suspension under subsection (5), is not a legislative instrument.



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