Commonwealth Consolidated Acts

AUSTRALIAN CHARITIES AND NOT-FOR-PROFITS COMMISSION ACT 2012 - SECT 15.5

  (1)   The objects of this Act are:

  (a )   to maintain, protect and enhance public trust and confidence in the Australian not - for - profit sector; and

  (b )   to support and sustain a robust, vibrant, independent and innovative Australian not - for - profit sector; and

  (c)   to promote the reduction of unnecessary regulatory obligations on the Australian not - for - profit sector.

  (2)   This Act achieves those objects by:

  (a)   establishing a national regulatory framework for not - for - profit entities that reflects the unique structures, funding arrangements and goals of such entities; and

  (b)   establishing the Commissioner of the Australian Charities and Not - for - profits Commission, who will:

  (i)   be responsible for registering entities as not - for - profit e ntities according to their type and subtypes; and

  (ii)   administer the national regulatory framework; and

  (iii)   assist registered entities in complying with and understanding this Act, by providing them with guidance and education.

  (3)   Registration is a prerequisite for an entity to access certain Commonwealth tax concessions.

  (4)   Registration under this Act may also be a prerequisite for other exemptions, benefits and concessions provided under other Australian laws.