Document ID: chunk:federal_register_of_legislation:C2004C01086:clause:7_7:p2
Version: federal_register_of_legislation:C2004C01086
Segment Type: clause
Provision Reference: sch 7 cl 7 (pt 2/6)
Character Range: 202116–204825

4 of the table in section 30‑15 and is not described by name in Subdivision 30‑B if:
 (a) the entity has an *ABN; and
 (b) the entity:
 (i) legally owns the fund; or
 (ii) includes the authority or institution; and
 (c) the fund, authority or institution meets the relevant conditions (if any) identified in the column headed "Special conditions" of that item; and
 (d) the entity meets the requirements of subsections (4), (5) and (6).

Relevant special conditions in table in section 30‑15

 (3) To avoid doubt, a condition requiring the fund, authority or institution to meet the requirements of section 30‑17 is not a relevant condition for the purposes of subparagraph (1)(b)(iii) or paragraph (2)(c).

Note: Section 30‑17 requires the entity to be endorsed under this Subdivision as a deductible gift recipient.

Maintaining gift fund

 (4) The entity must maintain for the principal purpose of the fund, authority or institution a fund (the gift fund):
 (a) to which gifts of money or property for that purpose are to be made; and
 (b) to which any money received by the entity because of such gifts is to be credited; and
 (c) that does not receive any other money or property.

Limits on use of gift fund

 (5) The entity must use the following only for the principal purpose of the fund, authority or institution:
 (a) gifts made to the gift fund;
 (b) any money received because of such gifts.

Transfer of assets from gift fund

 (6) A law (outside this Subdivision), a document constituting the entity or rules governing the entity's activities must require the entity to transfer, at the first occurrence of an event described in subsection (7), any surplus assets of the gift fund to a fund, authority or institution gifts to which can be deducted under this Division.

Events requiring transfer

 (7) The events are:
 (a) the winding up of the gift fund; and
 (b) if the entity is endorsed because of a fund, authority or institution—the revocation of the entity's endorsement under this Subdivision relating to the fund, authority or institution.

Note 1: There are 2 ways an entity can be endorsed because of a fund, authority or institution. An entity can be endorsed either because it is a fund, authority or institution or because it operates a fund, authority or institution.

Note 2: Section 30‑170 deals with revocation of endorsement.

30‑130  Applying for endorsement

 (1) An entity may apply to the Commissioner for endorsement.

 (2) The application:
 (a) must be in a form approved by the Commissioner; and
 (b) must be signed for the entity, or include the entity's *electronic signature if the application is *lodged electronically; and
 (c) must be lodged at, or posted