The Registrar of Indigenous Corporations, Selwyn Button, has today announced the end of the special administration of Kokatha Aboriginal Corporation RNTBC (KAC) and its return to members’ control.
Based in Port Augusta in South Australia, KAC’s primary responsibility is to manage the native title rights and interests of Kokatha people, traditional owners of around 140,000 square kilometres of land in central South Australia. After an examination of the books identified governance issues, the corporation was placed under special administration in September last year. That arrangement was extended twice.
‘Significant changes during the special administration have strengthened the governance structure and framework of KAC and its subsidiaries’, said Mr Button. ‘The special administrator worked with a group of Kokatha advisors to solve chronic problems in their corporation, freeing it up to move forward with clarity and confidence.’
Changes include the following:
- The structure of the KAC group has been simplified with the dual effect of saving the corporation money and providing the board with clearer oversight of operations.
- The boards of KAC and its subsidiaries are now skills-based and include independent directors with very strong experience in terms of both governance and the sector.
- Subsidiary boards are required to prepare an annual operating plan and budget for approval by the KAC board, and provide quarterly reports on performance and budget variances.
- An independent corporate trustee is in place for Kokatha’s two trust funds.
- The rule book has been strengthened to establish a clear, comprehensive process for decision making in relation to membership applications. The process is transparent and includes a right of appeal if prospective members consider their application was not given proper consideration.
The Registrar’s office will monitor the corporation over the next 12 months.