Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_15:p27
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 15 (pt 27/39)
Character Range: 1880550–1883298

or entities to be registered as the owner of that property;
the property does not vest in the entity or entities until the requirements of the law referred to in paragraph (a) have been complied with.

426‑155  Powers of acting trustee
  Subject to section 426‑150:
 (a) the acting trustee has and may exercise all the rights, title and powers, and must perform all the functions and duties, of the original trustee or trustees; and
 (b) the *ancillary or community charity trust fund's governing rules and every *Australian law apply in relation to the acting trustee as if the acting trustee were the trustee of the fund.

426‑160  Commissioner may give directions to acting trustee
 (1) The Commissioner may give the acting trustee a written notice directing the acting trustee to do, or not to do, one or more specified acts or things in relation to the *ancillary or community charity trust fund.
 (2) The acting trustee commits an offence if:
 (a) the acting trustee engages in conduct (within the meaning of subsection 2(1) of this Act); and
 (b) that engagement in conduct contravenes a notice given to the acting trustee under subsection (1).
Penalty: 100 penalty units.
 (3) This section does not affect the validity of a transaction entered into in contravention of a notice given under subsection (1).

426‑165  Property vested in acting trustee—former trustees' obligations relating to books, identification of property and transfer of property

Books
 (1) An entity commits an offence if:
 (a) the Commissioner makes an order under subsection 426‑150(1) or (2) vesting the property of an *ancillary or community charity trust fund in an acting trustee; and
 (b) just before the Commissioner made the order, the property was vested in:
 (i) the entity (the former trustee); or
 (ii) 2 or more entities (the former trustees), including the entity; and
 (c) the former trustee or former trustees do not, within 14 days of the Commissioner making the order, give the acting trustee all books (within the meaning of the Corporations Act 2001) relating to the fund's affairs that are in the former trustee's or former trustees' possession, custody or control.
Penalty: 50 penalty units.

Identification of property and transfer of property
 (2) Subsections (3) to (5) apply if:
 (a) the property of an *ancillary or community charity trust fund is vested in an entity (the former trustee) or entities (the former trustees); and
 (b) the Commissioner makes an order under subsection 426‑150(1) or (2) vesting the property in an acting trustee.
 (3) The acting trustee may, by notice in writing to the former trustee or former trustees, require the former trustee or former trustees, so far as the former trustee or former trustees can do so: