The purpose for which the proposed incorporated association is established are:-
- To encourage the study of the history of Phillip Island and surrounding district, and to promote the compilation of authentic historical records.
- To acquire, either by purchase, donation or otherwise, and preserve for the Society, books, manuscripts, maps, newspapers, records, prints, pictures, lantern slides, relics and all such objects and materials as may be considered to have a bearing on local history .
- To help and use influence in the preservation of places of historical interest, such as houses, buildings, cemeteries, etc.
- To foster interchange of information among members of the Society by lectures, readings, discussions, and exhibitions of historical interest and value
- To print, publish, and circulate such journals, information sheets, periodicals, books and other literature as appear conducive to the objects of the Society.
- To affiliate or co-operate with other Societies and institutions having objects similar to those of the Society.
- To promote and maintain a Museum of historical interest.
- To organise excursions, etc, to places of historic interest.
- To preserve the records and photographs of current events in the locality for posterity.