SYC changes its legal entity structure
According to SYC Chief Executive Officer, Paul Edginton, the change will enable SYC to remain sustainable over time.
“Given SYC is carrying on business outside of South Australia and may seek to pursue closer collaboration with other organisations interstate, it was decided that restructuring the legal entity of SYC to be a company limited by guarantee was a better vehicle to achieve SYC’s strategic objectives.”
This change does not alter SYC’s status as a Public Benevolent Institution or Deductible Gift Recipient (DGR). The name will change from Service to Youth Council Incorporated to SYC Limited and the transition becomes effective on July 1st 2014.
All stakeholders will be advised directly of the change and what it means for them, so expect some communication with more detail to arrive soon.