What are the advantages of incorporating as an Indigenous corporation?
Some of the advantages of incorporating as an Indigenous corporation (over other forms of incorporation) are: • the rules / constitution for the company (known as the rule book) can take into account Indigenous customs and traditions; • registration is free (unlike for incorporated associations and companies limited by guarantee); • sometimes (especially if it is small) a company may be exempted from producing annual reports; • Indigenous corporations deal with a specialist regulator (ORIC) rather than the Australian Securities and Investments Commission (ASIC); and • ORIC have a broader role than pure regulation (enforcement) – they can provide more specialist support, for example, face-to-face training in remote areas, a dispute resolution service, telephone advice etc.
