Abstract
Schools are a big part of the not-for-profit ('NFP') sector in Australia. This article
considers the choice as operating structure of NFPs and recommends a uniform operating structure that might be used for all. The company limited by guarantee is a useful structure since the provisions of the Corporations Act2001 (Cth) ('Corporations Act') offer day-to-day operating rules and law. This article suggests that a new chapter be inserted into the Corporations Act specifically to account for NFP activities. The recommendations draw upon the recent English inquiry and legislative amendments. We also refer to the January 2011 Australian Government consultation paper, Scoping Study for a National Not-for-Profit Regulator, that considers the feasibility of a nation-wide regulator.
considers the choice as operating structure of NFPs and recommends a uniform operating structure that might be used for all. The company limited by guarantee is a useful structure since the provisions of the Corporations Act2001 (Cth) ('Corporations Act') offer day-to-day operating rules and law. This article suggests that a new chapter be inserted into the Corporations Act specifically to account for NFP activities. The recommendations draw upon the recent English inquiry and legislative amendments. We also refer to the January 2011 Australian Government consultation paper, Scoping Study for a National Not-for-Profit Regulator, that considers the feasibility of a nation-wide regulator.
| Original language | English |
|---|---|
| Pages (from-to) | 1-22 |
| Number of pages | 22 |
| Journal | Corporate Governance eJournal |
| Publication status | Published - 2012 |
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Cite this
Lessing, J., Morrison, D., & Nicolae, M. (2012). Educational institutions, corporate governance and not-for-profits. Corporate Governance eJournal, 1-22.