Do you operate a Private Ancillary Fund (PAF) which is registered with the ACNC, or do you operate a PAF endorsed as an Income Tax Exempt Fund (ITEF)? All ITEFs were migrated to the Australian Charities and Not-for-profits Commission (ACNC) on 1 January 2014 as part of the commencement of the Charities Act 2013.
Information identifying PAF donors automatically withheld – until 30 June
Thus far, the ACNC has automatically withheld information from the ACNC Register which could identify PAF donors or make PAF contact details available. This transitional arrangement will come to an end on 30 June 2014. On 1 July, information previously withheld under the transitional arrangement will be released onto the public Register unless you have made an application to the ACNC before that date asking it to continue to withhold.
Charities can ask the ACNC to withhold information from the public Register
Any ACNC-registered charity can ask the ACNC at any time to withhold certain information on limited grounds such as commercial sensitivity, endangering public safety, or identification of an individual donor from an AIS or financial report.
Special additional grounds for PAFs to request withholding
PAFs have been given special, expanded grounds to ask the ACNC to withhold information from the public Register such as the PAF’s name or governing rules, or the name of a responsible entity, like a trustee. Conditions for granting a request vary depending on the information involved, but must always be linked to the possibility that an individual donor might be identified from the information. You can read about the conditions in the ACNC Regulation 2013, at section 40.10.
How to ask the ACNC to continue withholding PAF information from the public Register
You can use ACNC Form AE: Private ancillary funds – Information on the Register to make an application to continue withholding information about your PAF from the public Register, or if you allow information to be made public but later wish to apply for the information to be suppressed.
If you would like help in completing the form or identifying information that your PAF would prefer remained private, contact us on (07) 3837 3600, or send us an email at reception@ntlawyers.com.au.
Remember that the ACNC does not automatically grant your request – it must be satisfied that your request meets the conditions.
DISCLAIMER: This update contains general information only. It is not all inclusive and should not be considered legal advice. You should always obtain legal advice for your specific circumstances before relying on general information.