Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 5 - Administration  

PART 5-35 - REGISTRATION AND SIMILAR PROCESSES FOR VARIOUS TAXES  

Division 426 - Process of endorsing charities and other entities  

Subdivision 426-D - Public and private ancillary funds  

Suspension and removal of trustees

SECTION 426-130   COMMISSIONER TO APPOINT ACTING TRUSTEE IN CASES OF SUSPENSION OR REMOVAL  

Appointment of acting trustee

426-130(1)  


If the Commissioner suspends all of the trustees of an *ancillary fund under section 426-125 , the Commissioner must appoint a single entity to act as the trustee (the acting trustee ) of the fund during the period of the suspension.

426-130(2)  


If the Commissioner removes all of the trustees of an *ancillary fund under section 426-125 , the Commissioner must appoint a single entity to act as the trustee (the acting trustee ) of the fund until all of the vacancies in the position of trustee are filled. Acting trustee need not be constitutional corporation

426-130(3)  
An acting trustee need not be a *constitutional corporation, and may be the Commissioner. Paragraph 426-105(1)(a) does not apply in relation to an acting trustee.

426-130(4)  
An entity that is not a *constitutional corporation may not act as trustee under this section for longer than 6 months. Acting trustee must have agreed to comply with guidelines

426-130(5)  
An entity may only be appointed as acting trustee if the entity has, in accordance with paragraph 426-102(1)(b) or 426-105(1)(b) , agreed to comply with the rules in the *public ancillary fund guidelines or the *private ancillary fund guidelines (whichever are applicable) as in force from time to time.




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