Corporate Governance.
About our Company
NTSCORP (formally New South Wales Native Title Services) was incorporated under the Corporations Act 2001 (Cth) as a public company limited by guarantee on 5 December 2001. It has grown into one of Australia’s leading Aboriginal & Torres Strait Islander and native title service companies.
NTSCORP is not a Native Title Representative Body (NTRB), but is funded under Section 203FE of the Commonwealth Native Title Act 1993 (“the NTA”), by the Department of Families, Housing, Community Services and Indigenous Affairs, to carry out the functions of a NTRB. Drawing on its employees’ wealth of experience and skills it provides services to assist the Aboriginal people to exercise their legal rights under the NTA.
As a result of increasing demands and declining funding NTSCORP has resolved to seek additional funding streams through consultation with the private, public and community sectors.
The functions and powers of NTSCORP are set out in section 203B-BK of the NTA. Definitions and conditions affecting the performance of its functions are contained in Part 11 Divisions 1-7 of the NTA.
In summary the functions and powers of an NTRB as defined in s203 of the NTA are:
- Facilitation and assistance;
- Dispute resolution;
- Notification;
- Agreement making;
- Internal review; and
- Other functions (see s203BJ in particular).
Our Company’s Approach to Corporate Governance
Demanding the best possible outcomes in corporate governance is a cornerstone of any good company. This is particularly so in our company’s operating sphere.
The demand for increased exposure to good governance is particularly relevant in today’s environment. Both primary funding sources and our clients have high expectations that the standards of corporate governance in organisations such as ours reflect and often exceed those of the corporate sector.
That’s why NTSCORP is happy to take up the challenge of providing the highest possible standards attainable. We are constantly striving to better educate and train our board, employees and clients in line with the expectations created by today’s corporate environment.
Our clients and the community that we are proud to represent, can rest assured that our company is committed to the promotion of a corporate culture that is ethical and transparent, and a culture that is client focused and based on merit, teamwork and results.
The company is keenly aware that in a challenging environment that has the expectation of constant change from day-to-day, key corporate governance practices are para-mount. The company’s corporate practices include: established.
The board operates in accordance with the Corporations Act 2001 (Cth), the Native Title Act (1993) (Cth) and the company’s constitution. The board is enabled to ensure that the company’s business is carried out under its direction.
- An Audit and Compliance Committee;
- A People, Performance and Nomination Committee;
- Charters such as a CEO’s Charter, a Company Secretary’s Charter and Committee Charters;
- The development of a Strategic Plan;
- The development and maintenance of a company policy and procedure manual. Policies and procedures cover employment related issues, financial and accounting practices, internal administrative practices, Board practices, and policies impacting directly on our clients (such as a Facilitation and Assistance Policy and an Internal Review Policy);
- Increased facilitation and training of company members to increase participation in general meetings and the company;
- Improved reporting mechanisms to ensure improved communications between clients, members, directors and management by introducing better reporting mechanisms and disclosures, newsletters, promotional and information events. This includes increased participation at community events;
- The development and implementation of a staff induction manual to improve existing directors, member and staff induction procedures; and
- The implementation of the PM3 performance management program to measure staff and management performance against stated company, management and individual goals and objectives.
NTSCORP takes good corporate governance seriously and strives for high ethical standards in all its dealings – with our clients, our staff, our members, the regulators and the community (Aboriginal and the wider Australian community).
NTSCORP believes good governance is more about behaviour and relationships, embedded values, and the integrity with which the board, management and staff go about their business. It is not about ticking boxes. Good governance starts at the front desk and is reflected throughout the company to the chairperson of the board.
2007-2008 Changes to our Corporate Governance Practices
During the reporting period, NTSCORP reviewed and refined a number of documents that provide the foundation for good corporate governance.
The company amended its constitution at a special general meeting held in September 2007. Amendments included changing the company’s name, increasing the number of member directors to 10 and making all members member directors, and increasing the “service area” so we are no longer limited to providing assistance to clients in NSW and the ACT.
The Board also reviewed and updated the company’s charters and approved a new Policies and Procedures Manual. The Manual serves as a guide for staff, clients, directors and stakeholders. It ensures consistency in the way we approach our business and run our organisation, and will assist in the retention of corporate knowledge.
NTSCORP also drafted a new Strategic Plan which sets out “key performance indicators” for each service and business unit. Subject to the Board approving the Plan, NTSCORP will begin to implement it in the new financial year.
