The Marathi Katta Australia (MKA) is incorporated as a Company Limited by Guarantee under the Corporations Act and is therefore required to report to the Australian Securities and Investment Commission (ASIC) about its activities.
MKA is committed to good corporate governance practices and principles. The Trust Deed provides governance requirements and states that Marathi Katta Australia is not for profit and that its income will be applied to public charitable purposes.
The company directors are responsible for ensuring that MKA’s legal responsibilities are met.
Marathi Katta Australia is endorsed by the Australian Tax Office (ATO) as a Public Benevolent Institution and granted with the Deductible Gift Recipient (DGR) & Charity Tax Concessions (CTC) status from 17th October 2012. MKA must ensure that its activities are charitable.
The company, The Marathi Katta Australia, is the trustee of the Marathi Katta Australia where donations as gifts to Marathi Katta Australia are held. This fund is established by a Trust Deed.
The trustees are responsible for investment decisions and for ensuring that income is distributed in line with the stated purposes in the trust deeds. The trustee owes fiduciary duties under the various Trustee Acts and the common law. Marathi Katta Australia Fund has a deductible gift recipient (DGR) status. These are the Funds to which tax-deductible donations can be given.
Marathi Katta Australia’s legal requirements are covered by the:
Marathi Katta Australia Trust Deed (Will be provided on your request)