Document ID: chunk:federal_register_of_legislation:C2015C00341:clause:2_5
Version: federal_register_of_legislation:C2015C00341
Segment Type: clause
Provision Reference: sch 2 cl 5
Character Range: 28188–28740

5  Opt‑out
If, during the period of 12 months starting on the commencement day, a fund notifies the Commissioner of the ACNC, in the approved form, that the fund does not want item 4 to apply to the fund:
 (a) item 4 does not apply, and is taken never to have applied, to the fund; and
 (b) the Commissioner of Taxation is treated as having revoked, on the day before the commencement day, the entity's endorsement mentioned in paragraph 426‑5(h) in Schedule 1 to the Taxation Administration Act 1953.

Part 3—Purposes of registered charitable trusts