Document ID: chunk:federal_register_of_legislation:C2024A00052:clause:3_34:p1
Version: federal_register_of_legislation:C2024A00052
Segment Type: clause
Provision Reference: sch 3 cl 34 (pt 1/3)
Character Range: 29208–32350

34  At the end of Part 5‑35 in Schedule 1
Add:

Subdivision 426‑E—Community charity corporations

Guide to Subdivision 426‑E

426‑175  What this Subdivision is about

      This Subdivision deals with philanthropic companies known as community charity corporations.
      The Minister must make guidelines determining when community charity corporations are entitled to be endorsed as deductible gift recipients.
      This Subdivision also provides for penalties for failures to comply with the guidelines.

Table of sections

Community charity corporations
426‑180 Community charity corporations
426‑185 Community charity corporation guidelines
426‑190 Australian Business Register must show community charity corporation status

Administrative penalties
426‑195 Administrative penalties for community charity corporations

Limitation on certain transfers
426‑200 Limitation on community charity corporations making certain transfers

Community charity corporations

426‑180  Community charity corporations
 (1) A company is a community charity corporation if:
 (a) the company is:
 (i) a *constitutional corporation; or
 (ii) a body corporate that is not a constitutional corporation; and
 (b) the company is specified in a declaration in force under subsection (3); and
 (c) each director of the company has agreed, in the *approved form given to the Commissioner, to comply with the rules in the *community charity corporation guidelines, as in force from time to time; and
 (d) none of the directors of the company has revoked that agreement in accordance with subsection (2).
 (2) A director may revoke an agreement mentioned in paragraph (1)(c) only by giving the revocation to the Commissioner in the *approved form.
 (3) The Minister may, by legislative instrument, declare one or more companies for the purposes of paragraph (1)(b).

426‑185  Community charity corporation guidelines
  The Minister must, by legislative instrument, formulate guidelines (the community charity corporation guidelines) setting out:
 (a) rules that *community charity corporations and their directors must comply with if the corporations are to be, or are to remain, endorsed as *deductible gift recipients; and
 (b) the amount of the administrative penalty, or how to work out the amount of the administrative penalty, under subsection 426‑195(1) in relation to community charity corporations.

426‑190  Australian Business Register must show community charity corporation status
 (1) If a *community charity corporation has an *ABN, the *Australian Business Registrar must enter in the *Australian Business Register in relation to the corporation a statement that it is a community charity corporation.
Note 1: An entry (or lack of entry) of a statement required by this section does not affect whether a company is a community charity corporation.
Note 2: The Australian Business Register will also show if a community charity corporation is endorsed as a deductible gift recipient: see section 30‑229 of the Income Tax Assessment Act 1997.
 (2) The *Australian Business Registrar must take reasonable steps to ensure that a statement appearing in