Document ID: chunk:federal_register_of_legislation:C2012A00169:clause:1_5
Version: federal_register_of_legislation:C2012A00169
Segment Type: clause
Provision Reference: sch 1 cl 5
Character Range: 24026–24676

5  Opt‑out
(1) This item applies to an entity that, during the period of 6 months starting on the commencement day, notifies the Commissioner of the ACNC, in the approved form, that the entity does not want this Part to apply to the entity.
(2) Divisions 1, 2 and 4 do not apply, and are taken never to have applied, to the entity.
(3) The Commissioner of Taxation is treated as having revoked, on the day before the commencement day, the entity's endorsements mentioned in paragraphs 426‑5(a), (b), (c), (d), (e), (f), (g) and (h) in Schedule 1 to the Taxation Administration Act 1953 (whichever are applicable).

Division 4—Religious institutions