Australian Charities and Not-for-profits Commission (Consequential and Transitional) Act 2012 (169 of 2012)

Schedule 2   References to charities etc.

Part 2   Tax exempt entities

Income Tax Assessment Act 1997

38   Paragraph 50-110(5)(b)

Repeal the paragraph, substitute:

(b) if item 1.1 of the table in section 50-5 covers the entity:

(i) the entity must not have carried on any activities as a charity; and

(ii) there must be reasonable grounds for believing that the entity will meet the relevant conditions referred to in the column headed "Special conditions" of item 1.1 of the table; or