Non-Profit News Service No. 0423 – Public ancillary fund – transitional period closing soon
Trustees of public ancillary funds are reminded that the transitional period to amend their fund's governing rules – to comply with the Public ancillary fund guidelinesExternal Link – closes on 1 July 2015.
Public ancillary funds and their trustees must comply with these guidelines if the funds are to be, or are to remain, endorsed as deductible gift recipients (DGRs). Failure to comply with the guidelines could lead to the:
- trustee and directors of trustees incurring administrative penalties
- fund losing entitlement to endorsement.
Trustees need to review their trust deeds and amend them if necessary. No changes are required to your fund's rules if the fund can already comply with the guidelines under its existing rules.
To work out whether to amend your fund's rules please refer to Public ancillary funds - transitional arrangements for existing public AFs for information on variation of the instrument of trust or will.
You must notify us of any change to your fund's governing rules in the approved form within 21 days of the change.
End of attention
The transitional period to amend the governing rules of public ancillary funds to comply with the Public ancillary fund guidelines closes on 1 July 2015.
Find out more
We encourage your feedback and suggestions for future topics to be covered by the news service. You can do this by:
End of find out more