Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_15:p26
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 15 (pt 26/39)
Character Range: 1877998–1880777

all of the vacancies in the position of trustee are filled.

Acting trustee need not be constitutional corporation
 (3) An acting trustee need not be a *constitutional corporation, and may be the Commissioner.
 (4) An entity that is not a *constitutional corporation may not act as trustee under this section for longer than 6 months.

Acting trustee must have agreed to comply with guidelines
 (5) An entity may only be appointed as acting trustee if the entity has agreed, in accordance with paragraph 426‑102(1)(b), 426‑105(1)(b) or 426‑117(1)(c), to comply with the rules in the *applicable trust fund guidelines as in force from time to time.

426‑135  Terms and conditions of appointment of acting trustee
 (1) The Commissioner may determine the terms and conditions of the appointment of the acting trustee, including fees. The determination has effect despite anything in:
 (a) any *Australian law other than this section; or
 (b) the *ancillary or community charity trust fund's governing rules.
 (2) Without limiting subsection (1), the Commissioner may make a determination under that subsection to the effect that the acting trustee's fees are to be paid out of the corpus of the *ancillary or community charity trust fund.

426‑140  Termination of appointment of acting trustee
  The Commissioner may terminate the appointment of the acting trustee at any time.

426‑145  Resignation of acting trustee
 (1) The acting trustee may resign by writing given to the Commissioner.
 (2) The resignation does not take effect until the end of the seventh day after the day on which it was given to the Commissioner.

426‑150  Property vesting orders
 (1) If the Commissioner appoints an acting trustee, the Commissioner must make a written order vesting the property of the *ancillary or community charity trust fund in the acting trustee.
 (2) If the appointment ends, the Commissioner must make a written order vesting the property of the fund in the new acting trustee, the previously suspended trustee or trustees or the new actual trustee or trustees (whichever is applicable).
 (3) If the Commissioner makes an order under this section vesting property of an *ancillary or community charity trust fund in an entity or entities, then, subject to subsection (4), the property immediately vests in the entity or entities by force of this section.
 (4) If:
 (a) the property is of a kind whose transfer or transmission may be registered under an *Australian law; and
 (b) that law enables the registration of such an order, or enables the entity 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