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Standard 1

Purposes and not-for-profit nature of a registered entity

BOIV’s constitution provides that it is a not-for-profit charity and has charitable purpose as an object of the Constitution. BOIV also continuously operates as a not-for-profit charity and is working towards a charitable purpose as per its governing document.

Standard 2

Accountability to members

BOIV has members, therefore BOIV takes reasonable steps be accountable to its members and provides its members an adequate opportunity during the AGM to raise concerns about how BOIV is governed. BOIV regularly communicates with its members and stakeholders through its monthly meetings, AGM and social media.

Standard 3

Compliance with Australian Laws

BOIV acts lawfully and complies with the law. In most cases, this relates to common sense and good practice, such as being familiar with the main areas of regulation relating to BOIV activities, having some financial controls, and having a process to ensure BOIV meets its legal obligations.

Standard 4

Suitability of responsible persons

BOIV takes reasonable steps to be satisfied that each of its Board members, directors  and officers is not disqualified from

• Managing a corporation under the Corporation Act; and
• Being responsible person by the ACNC Commissioner, within the previous 12 months.

Standard 5

Duties of responsible persons

BOIV takes reasonable steps to make sure that the following duties apply to responsible persons and that they follow them. These duties are:

• To act with reasonable care and diligence
  
• To act honestly in the best interest of the charity and for its charitable purposes;
  
• Not to misuse their position as a responsible person;
  
• Not to misuse information they gain in their role as a responsible person
  
• To disclose conflict of interest;
  
• To ensure that financial affairs of the charity are managed responsibly; and
  
• Not to allow the charity to operate while it is insolvent