Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_15:p22
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 15 (pt 22/39)
Character Range: 1867902–1870707

ancillary fund.
Note 2: The Australian Business Register will also show if a public ancillary fund 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 the *Australian Business Register under this section is true. For this purpose, the Registrar may:
 (a) change the statement; or
 (b) remove the statement from the Register if the statement is not true.

Private ancillary funds

426‑105  Private ancillary funds
 (1) A trust is a private ancillary fund if:
 (a) each trustee of the trust is a *constitutional corporation; and
 (b) each trustee has agreed, in the *approved form given to the Commissioner, to comply with the rules in the *private ancillary fund guidelines, as in force from time to time; and
 (c) none of the trustees has revoked that agreement in accordance with subsection (2).
 (2) A trustee may revoke an agreement mentioned in paragraph (1)(b) only by giving the revocation to the Commissioner in the *approved form.

426‑110  Private ancillary fund guidelines
  The Minister must, by legislative instrument, formulate guidelines (the private ancillary fund guidelines) setting out:
 (a) rules that *private ancillary funds and their trustees must comply with if the funds 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 426‑120(1) in relation to private ancillary funds.

426‑115  Australian Business Register must show private ancillary fund status
 (1) If a *private ancillary fund has an *ABN, the *Australian Business Registrar must enter in the *Australian Business Register in relation to the fund a statement that it is a private ancillary fund.
Note 1: An entry (or lack of entry) of a statement required by this section does not affect whether a trust is a private ancillary fund.
Note 2: The Australian Business Register will also show if a private ancillary fund 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 the *Australian Business Register under this section is true. For this purpose, the Registrar may:
 (a) change the statement; or
 (b) remove the statement from the Register if the statement is not true.

Community charity trusts

426‑117  Community charity trusts
 (1) A trust is a community charity trust if:
 (a) the trust is specified in a declaration in force under subsection (3); and
 (b) each trustee of the trust is a *constitutional corporation; and
 (c) each trustee has agreed, in