Legal Requirement for Australia

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Hi everyone!

Many of you may already be aware that the 31 March 2022 deadline for many Australian B Corps to complete the legal requirement is fast approaching.

Launched here in 2020, the B Corp legal requirement is now a mandatory part of certification in Australia and is met by embedding stakeholder governance in your company’s constitution. For context, you can check out Andrew’s post on this here.

Our team have created a comprehensive landing page with everything you need to know to complete the legal requirement, including a how-to guide for implementing the change.

For anyone who may not be aware, meeting the requirement will also allow you to gain up to an additional 7.5 points towards your B Impact score in your next recertification.

If the upcoming deadline affects you, once you’ve completed the steps outlined in the how-to-guide to fulfill the legal requirement, please let us know by clicking here and uploading your documentation.

If you have any questions that are not answered on the landing page, or in the how-to guide, reach out to us at certification@bcorporation.com.au

Thank you all for your efforts in bringing stakeholder governance to life!

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Thanks @Shalini_B_Lab In regards to trusts, is there a specific clause to insert into the deed, as with the company statement In discharging their duties under this constitution, the Corporations Act and the general law, the directors or other officers of the Company:, trusts are not governed by the Corporations Act? Thank you.

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Hi @rshwetz - there isn’t another template specific to Trusts to include in Trust Deeds. I’d follow the guidance on p.5 of the How-to-Guide here. The Trust would need to do what makes sense based on its governing rules. If they would like some draft wording checked, we can look into this.

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Fantastic - thank you so much!