Australian Charities and Not-for-profits Commission Regulation 2013 Registered

Following on from the assent of the Australian Charities and Not-for-profits Commission Act 2012, the Federal Parliament has registered a new Australian Charities and Not-for-profits Commission Regulation 2013 (No. 22) on 5 March 2013. This regulation commenced yesterday, 6 March 2013.

This regulation is to specify certain information that the Commissioner must include on the Australian Charities and Not-for-profits Commission (ACNC) Register. The Register is maintained electronically by the Commissioner of the ACNC and includes specified information about each registered, and each formerly registered, entity. The purpose of the Register is to provide a single source of easily accessible public information on the not-for-profit section covered by the ACNA Act.

This regulation also builds upon the requirements in the Act of a new independent statutory office, the ACNC which will be the Commonwealth level regulator for the not-for-profit sector. The Act establishes a new regulatory framework for the not-for-profit sector.

The legislation's effectiveness is yet to be determined as reforms have been criticised by the groups which they affect as being unclear and needing more discussion.  Another criticism has been that many charities and NFP organisations are already incorporated and covered by existing legislation such as the corporations law and its regulatory body, ASIC.

Read more here.

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