Treasury Laws Amendment (Strengthening Financial Systems and Other Measures) Act 2025 (72 of 2025)

Schedule 4   Minor and technical amendments

Part 1   Amendments commencing day after Royal Assent

Division 6   When resignation of directors of registered charities takes effect

Corporations Act 2001

27   At the end of section 111N

Add:

Notice of resignation of directors - responsible entities

(5) Subsections (6), (7) and (8) of this section apply if:

(a) the Commissioner of the ACNC is notified (the ACNC notice ) for the purposes of the Australian Charities and Not-for-profits Commission Act 2012 that a person has ceased to be a responsible entity (within the meaning of that Act) of the body corporate; and

(b) the person was a responsible entity of the body corporate because the person was a director (within the meaning of this Act) of the body corporate; and

(c) the body corporate is a company (within the meaning of this Act).

(6) For the purposes of paragraph 203AA(1)(b) of this Act:

(a) treat a written notice stating that the person has stopped being a director of the body corporate as having been lodged with ASIC; and

(b) if the ACNC notice complied with paragraph 65-5(4)(b) or (c) of the Australian Charities and Not-for-profits Commission Act 2012 - treat the notice as having been lodged with ASIC on the day the person ceased to be a responsible entity of the body corporate; and

(c) if the ACNC notice did not comply with paragraph 65-5(4)(b) or (c) of that Act - treat the notice as having been lodged with ASIC on the day it was given to the Commissioner of the ACNC.

(7) The Commissioner of the ACNC must give ASIC details of the ACNC notice.

(8) If:

(a) paragraph (6)(c) of this section applies; and

(b) either:

(i) the Court fixes the resignation day as the day the person's resignation takes effect under subsection 203AA(2) of this Act; or

(ii) ASIC fixes the resignation day as the day the person's resignation takes effect under subsection 203AA(2) of this Act;

then:

(c) ASIC must give the Commissioner of the ACNC a copy of the order made by the Court that fixes the day; or

(d) ASIC must give the Commissioner of the ACNC details of the resignation day that ASIC fixed.

Notice of resignation of directors - acting responsible entities

(9) If:

(a) a person is a director (within the meaning of this Act) of the body corporate because the person is an acting responsible entity (within the meaning of section 100-30 of the Australian Charities and Not-for-profits Commission Act 2012) of the body corporate; and

(b) the person resigns their appointment as an acting responsible entity of the body corporate by giving the Commissioner of the ACNC on a day a written resignation in accordance with subsection 100-50(1) of that Act; and

(c) the body corporate is a company (within the meaning of this Act);

then:

(d) ASIC is treated as being notified on that day of the person's resignation as a director of the body corporate; and

(e) subsection 203AA(1) of this Act is treated as providing that the person's resignation as a director of the body corporate takes effect at the same time as the person's resignation as an acting responsible entity takes effect under subsection 100-50(2) of that Act; and

(f) the Commissioner of the ACNC must give ASIC details of the written resignation.