FINACT Incorporation

Dear all,


It is with much joy that the Executive Committee will like to  announce the successful incorporation of FINACT.  Further to your valuable inputs and prior to incorporation, the FINACT constitution was further subjected to both legal and corporate governance advice.  Based on the recommendations, some minor amendments were made to the constitution to enable incorporation.  A copy of the final version is attached for your reference.


As an obvious next step, soon after incorporation, FINACT treasurer got an ABN for FINACT.  This will enable us to open a bank account for FINACT.  I take this opportunity to thank all our current FINACT members for their valuable suggestions that helped us further finesse the FINACT constitution.


At its March meeting, the Executive Committee made a decision regarding a nominal joining and annual membership fee.  The Committee decided that for all new members/ organisation (other than those who are already members of FINACT) there will be a onetime only joining fee of $20. The Committee also decided that as a goodwill gesture and to encourage more organisations to join FINACT, the joining fee will be waived for all new organisations joining before 30 June 2011. The Committee further decided that the annual membership fee of $30 will be payable by all members (including existing members of FINACT).  This annual fee will cover the time period to 30 June 2012.


At its March meeting, the executive also progressed its thinking on future activities for FINACT.  A number of potential activities were discussed. Particular emphasis was given to ideas that were in line with FINACT’s vision.  The following activities were agreed upon by the Committee members.  The finer details of these proposed activities are currently being worked by Committee members.


1.       FINACT launch: The Committee plans to officially launch FINACT sometime in June 2011. This will include the unveiling of the FINACT website and a get together for all the members of FINACT including some public personalities and community leaders.  This activity is envisaged to help position FINACT favourably in this space as an incorporated entity looking after the welfare of Indian Community in the ACT and surrounds.


2.        India Fest -The Committee plans to organise an annual event showcasing all Indian states represented in the ACT.  The event is proposed to be a cultural, culinary extravaganza targeting local and cross border audiences including key Federal and State Politicians and Diplomats. It is envisaged that this function will provide an excellent opportunity to showcase the vibrant Indian culture to the larger Canberra community.


3.       Community forums -The Committee plans to organise community forums at least twice a year on major contemporary issues confronting Indian Community in the ACT.  Among the invitees, will be Academics, Senior Politicians and leading Journalists. These forums are likely to provide the local Indian Community a forum to discuss their issues with local and federal decision makers and guide their thinking.


4.       India –Australia Friendship week: This event is envisaged to be an annual event to commemorate Indian and Australian friendship.  A number of activities will be organised during this week to cement the existing ties between Indians and Australians in the ACT and the surrounds.  It may be that some of the other activities listed here might be organised in this week.


5.       Charity Fundraising – The Committee plans to organise cultural programs during the year to raise funds for charitable purposes.  Once again this activity is likely to improve our profile in the local community and enable us to fall behind some worthy cause for the greater good.


6.       Sports activity – To emphasise health and fitness in the community, the Committee plans to organise an annual cricket tournament involving Indian community in the ACT.  This event is envisaged to bring the diverse Indian community together and also provide entertainment for all ages alike.


7.       Book festival – The Committee sees the potential for organising an event to promote the literary interests of the Indian community in the ACT and surrounds.  This event will provide a medium for exchange of ideas and buying/selling of books. The proceeds from this event could be donated to some philanthropic cause in the local community.


8.       Last but not the least, as a longer term goal for FINACT, the Committee plans to set up ‘India Centre’ or ‘India Bhavan” in the ACT. This is in-line with suggestions made at the last GC meeting in February.  As this ‘centre’ will be a permanent and on-going commitment, the Committee plans to organise a series of meetings with delegates to canvass the community expectations and work on the logistical and other requirements for setting up of a permanent community centre.  It may be that the Committee at a later date decides to set up a sub-committee to preside over the planning of this facility.


Finally, the Executive Committee would like to urge all the member organisations to circulate this information among their respective communities.  As always, FINACT is open to ideas from the community.  So please feel free to call/write to us if you have an idea that you would like us to consider.


Once again, we would like to thank all our existing member organisations for their continued support and co-operation.


Kind regards

Amish Chaturvedi


On behalf of the FINACT Executive Committee


finact constitution-final.pdf