On 26 November 2021 the AICD made a submission to the National Indigenous Australians Agency on an exposure draft of amendments to CATSI Act Regulations.
The AICD supported changes to size classification and consolidated revenue thresholds and considered that for small CATSI corporations the threshold should be set at $500,000 per annum consistent with recent changes to ACNC reporting thresholds.
The AICD expressed concern with the proposals on disclosing key management personnel remuneration and separately director fees and meeting attendance. In both cases the AICD considered that requirements would be onerous on medium CATSI corporations, punitive and not assist in achieving improvements in the governance of CATSI corporations. The proposals would also go beyond the obligations imposed on most non-CATSI Act entities and raise considerable privacy concerns.
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