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Legislative framework for public ancillary funds

This consultation process has now been completed. Submissions available
Date
-
Consultation Type
Exposure Draft

Key Documents

This exposure draft of legislation (and explanatory material) and draft guidelines provide a new regulatory framework for public ancillary funds.

The exposure draft among other things:

  • gives the Treasurer the power to make legislative guidelines about the establishment and maintenance of public ancillary funds;
  • gives the Commissioner the power to impose administrative penalties on trustees that fail to comply with the guidelines and to remove or suspend trustees of non-complying funds; and
  • defers the start date of 1 July 2011 as announced in the Budget measure of 2010-11 until 1 January 2012.

The legislative guidelines provide for improved standards of governance and accountability, ensure regular valuation of assets, clarify investment and distribution rules, and provide for a system of administrative penalties.

Submissions

56 submissions were received for this consultation, including 2 confidential submissions.

Ballarat Foundation - pdf 318.87 KB
Ballarat Foundation - doc 155 KB
Ballarat Foundation - pdf 52.05 KB
Bendigo Central Victoria - pdf 278.91 KB
Bendigo Central Victoria - rtf 640.27 KB
Blake Dawson - pdf 318.68 KB
Brian Page (1) - rtf 68.62 KB
Brian Page (1) - pdf 90.76 KB
Brian Page (2) - rtf 428.07 KB
Brian Page (2) - pdf 129.85 KB
Brian Page 20110808 - pdf 90.76 KB
Brian Page 20110808 - rtf 68.62 KB
Brian Page 20110824 - pdf 129.85 KB
Brian Page 20110824 - rtf 428.07 KB
Centre for Philanthropy - pdf 221.88 KB
Centre for Philanthropy - rtf 118.57 KB
Harding and Thornbury - pdf 309.97 KB
Harding and Thornbury - rtf 427.18 KB
Law Council - pdf 1.36 MB
Minter Ellison - pdf 118.53 KB
Philanthropy Australia - pdf 282.98 KB
Philanthropy Australia - pdf 133.65 KB
Public Trustee Qld - pdf 375.55 KB
RPD Wright - rtf 47.87 KB
RPD Wright - pdf 85.67 KB
Stand Like Stone - pdf 319.9 KB
Stand Like Stone - rtf 6.71 MB
TCA 20110830 - pdf 189.24 KB
TCA 20110830 - rtf 264.11 KB
TCA 20111128 - pdf 127.23 KB
TCA 20111128 - rtf 117 KB