If you run a club or community organisation, this update may be of interest!
The Incorporated Societies Act 1908 will receive a long-awaited update after many years of consultation and deliberation.
The purpose of the Incorporated Societies Bill is to put in place a modern framework of basic legal, governance and accountability obligations for incorporated societies and those who run them.
What changes will the update bring?
One of the key changes is in relation to duties of officers. These are the people who fill the roles of president, secretary and committee members.
The duties are modelled on those of directors of companies and include such things as acting in good faith and in the best interests of the society or club.
When will these changes take place?
It is anticipated the new law will come into effect by the end of 2021. Once finalised, there will be a two and a half to four year transition period for clubs and societies to adjust to the new changes.
More guidance will be available at this time but each incorporated society will need to review and update its rules/constitution during the transition period.