Team:TZMSYD Nonprofit
This is the Team page for the chapter's project for setting the local chapter up as a non-profit organisation, and eventually its administration and coordination.
Contents |
[edit] Team
Activities: TZM Sydney Chapter's project for setting the local chapter up as a non-profit organisation, and eventually its administration and coordination
[edit] Members
[edit] Requests
[edit] Offers
[edit] Cost/benefit analysis
- Benefits: as a registered non-profit incorporated organization are limited. Most notable benefits - easier access to venues, liability insurance, collection of public monies are not an issue at this point in time.
- Costs: an incorporated association may need to: have a committee, responsible for managing the association, have a public officer and notify any changes in that position
have a registered office in its state of incorporation act in accordance with its objects and rules, hold an annual general meeting once every calendar year, lodge an annual statement every year, keep proper accounting records and, in some states, prepare, have audited and lodge financial statements keep minutes of all committee and general meetings. keep registers of members and all committee members have a common seal.
[edit] Registering
The ASIC information sheet (INFO 60) sets out the steps involved in registering an Australian body. It covers:
- Bodies eligible for registration
- How to register as a registered Australian body
- Post-registration obligations
- Relevant forms of notice
[edit] Steps to registering
[edit] Step 1 – Name
Think of a name and ensure the name is available.
This first step in the registration process is to ensure that the name is available for the corporation or body. use our Check Name Availability search on ASIC Connect.
[edit] Step 2 - Reserve a name
[edit] Step 3 - Complete the relevant application form
To register a registrable Australian body, complete Form 401Application for registration of a registrable Australian body. The form asks for general details about the body. It also requires: an indication of whether there are any existing charges on property of the body and, if there are, details of those charges must be given, and details of all directors or their equivalent, including date and place of birth. If the registered office will not be occupied by the body but by, for example, its accountant or solicitor, the form must show that their consent has been given to the body’s use of that address.
[edit] Step 4 - Assemble accompanying documents
Lodge the following documents: A certified copy of the body’s current Certificate of Incorporation or Registration, or the equivalent document. The certificate should be certified as a true copy by the authority in the body’s place of incorporation or formation which exercises functions similar to those of ASIC. The certification should be dated no more than three months before the copy is lodged with us, unless an extension has been granted.
A certified copy of the body’s constitution (such as Memorandum and Articles of Association or their equivalent). This can either be an up-to-date copy embodying all alterations or a copy of the original document together with copies of all resolutions altering or affecting the constitution. The document can be certified as a true copy of the body’s constitution by:
- whoever has lawful custody of the original document (ASIC equivalent)
- a notary public, or
- a director or secretary of the body by a statement in writing (a form 911 will suffice).
If the body does not have a constitution, ASIC will accept a letter from its equivalent in the body’s place of incorporation stating that the body is not governed by, or is required to have, its own written constitution. A similar statement as to the non-existence of a constitution would also be acceptable from a director, or equivalent, of the body. The ‘date of certification’ appearing on these documents must be no more than three months before it is lodged with ASIC.
The full documentary requirements set out above may be found in s601CB of the Corporations Act and reg 5B.2.01 and 5B.2.01 and 5B.2.02 of the Corporations Regulations. Lodge these documents within three months from the date of certification.
[edit] Step 5 - Lodge the form and associated documents with the prescribed fee
There are fees associated with the process, which vary from year to year and depending on organisation sized. Easiest way to determine fees is just to call ASIC or look up the prescribed fees are listed in Information Sheet 30 Fees for commonly lodged documents.
[edit] Submitting the registration
The completed application can be mailed to:
Australian Securities & Investments Commission PO Box 4000 Gippsland Mail Centre VIC 3841
After the application has been processed ASIC will issue a Certificate of Registration.
There are various post-registration obligations, which are varied and complicated.
