NFP’s Limited By Guarantee Under the Microscope
Thursday, 4th April 2002 at 1:04 pm
Melbourne researchers in conjunction with Philanthropy Australia have begun investigating whether or not company laws adequately meet the needs of Australia’s Not for Profit companies.
Researchers, Professor Ian Ramsay and Susan Woodward from the Centre for Corporate Law and Securities Regulations at Melbourne University are conducting a large-scale survey of all ‘companies limited by guarantee’ that appear on the Australian Securities and Investment Commission register.
The register contains about 10-thousand companies.
Susan Woodward says currently Not for Profit organisations are governed by laws geared to ‘for-profit’ businesses, which is the researchers main area of concern.
She says the questions covered include details on the size and nature of the organisation, the reasons for the adoption of a corporate legal structure, the suitability of that structure, accountability to various stakeholders, the composition and procedures adopted by Boards of Directors and their views on the most appropriate regulator.
Woodward says information from the survey will be useful for future law reform proposals particularly any reforms about the establishment of an independent administrative body to oversee charities as was recommended by the Federal Government’s Charities Inquiry.
Those organisations that take the time to complete the confidential questionnaire (which takes about 20 minutes) can obtain the results once the survey is complete. Participants can also opt to take part in further Focus Groups.
NFP’s across the country will be receiving the questionnaire during March and Pro Bono Australia will bring you the results of the survey when the research is completed.
Woodward says current research funding provides for an investigation into Not for Profit companies only even though the issues may apply to incorporated associations.
All organisations who receive a questionnaire are encouraged to take part and return the survey in the reply paid envelope by April 2nd 2002.
Susan Woodward can be contacted for more information on (03) 8344 6938 or via e-mail to firstname.lastname@example.org.