From 1 July 2019, any not-for-profit organisations operating as a trading or financial corporation will be required to comply with the new whistleblower protection regime under Part 9.4AAA of the Corporations Act 2001 (Cth).
Any organisation that meets the definition of ‘trading or financial corporation’ will have to comply with the new regime. ASIC has advised that this may include:
- incorporated associations
- other bodies corporate, including not-for-profit bodies corporate (NFP)
- incorporated organisations registered with ASIC as Australian registered bodies
- incorporated organisations registered with the Australian Charities and Not-for-profits Commission (ACNC) as charities.
While all public companies limited by guarantee are already subject to existing whistleblower protection laws, those entities will also have to comply with the new regime from 1 July 2019.
Entities caught by the regime should review their internal processes for handling organisational complaints to ensure they comply with new regime.
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