Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 30.289A

Other requirements

No acting as a conduit

             (1)  The institution must have a policy of not acting as a mere conduit for the donation of money or property to other organisations, bodies or persons.

Surplus assets to be transferred on winding up

             (2)  It must have rules providing that, if the public fund is wound up, any surplus assets of the fund are to be transferred to another fund that is on the register.

Statistical information to be provided

             (3)  It must have agreed to give the * Families Secretary, within a reasonable period after the end of each income year, statistical information about gifts made to the public fund during that income year.



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