Winding Up an NFP – Practical Tips

Winding Up an NFP – Practical Tips

Jason Watson

Jason Watson

Principal @ Elementary Law

Better Boards is pleased to present "Winding Up an NFP – Practical Tips" in partnership with Jason Watson, Principal @ Elementary Law.

Winding up can be a tricky area, requiring a sustained effort and engagement between the Board, management and stakeholders to meet the various requirements involved. It is critical to ensure that the process is planned and implemented properly.

This session will look at the reasons you might wind up an NFP, the steps to follow and issues to be aware of.

In this session Jason will:

  • Explore reasons you might wind up an NFP
  • Consider transfer of assets and successor organisations
  • Examine key requirements found in NFP Constitutions and at law
  • Provide details of the timing, paperwork and steps to be followed
  • Consider the worst case scenario of insolvency and Director liability

This presentation will provide attendees with the tools to navigate the winding up process.

About the Presenter
Jason Watson

Jason has over twenty years’ experience in legal and governance, contracts, IP and business and asset transfers across a wide range of public and private organisations. Jason acts for a range of NFPs, including Cooperative Research Centres (CRCs), research, scientific and member-focused institutions, Industry Growth Centres and Universities. He has provided advice relating to establishment, ACNC and tax-exempt status, NFP mergers and transfers, establishing successor organisations and winding-up. Jason recently finished a five year term as the Chair of the Board of an ASX-listed company.


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