Authority reviewing act covering NGOs

THE law governing registering and operations of non-profit organisations, the Associations Incorporation Act, is being reviewed by the Investment Promotion Authority.
This will be done by seeking feedback on proposed changes through planned consultation exercises in Port Moresby and other centres nationwide.
IPA acting managing director Clarence Hoot said this was in line with ongoing policy of updating regulations to meet current business trends.
He encouraged feedback to aid this process.
“Over the years, the IPA has undertaken a move to update its legislations to suit the modern corporate trends,” he said.
“This saw the updating of the Business Names Act and Companies Act in 2014.
“We are now in the process of updating the Associations Incorporation Act since it has not been updated since its passage in 1966.
“The proposed changes are intended to address issues that have been identified as problematic for local associations.
“They also bring the act into compliance with international anti-money laundering mandates, which would eventually bring a higher level of transparency and accountability to this business entity type.”
The first stakeholder awareness is set for next week Wednesday at the Stanley Hotel in Port Moresby.
This will be followed by a series of awareness programmes in Lae, Kokopo and Goroka.
The review is being undertaken with technical assistance from the Asian Development Bank under its Pacific Private Sector Development Initiative.
It has the support of Australian and New Zealand governments.