Requirements for DGR endorsement for ancillary funds categories
Type and Item no
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Requirements
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Public ancillary fund
AA.A.AA
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A trust is a public ancillary fund if it meets all of the following:
- It is a fund established and maintained under a will or instrument of trust solely for the purpose of providing money, property or benefits to DGRs or the establishment of DGRs.
- At least one of the following applies
- Each trustee is a constitutional corporation.
- The sole trustee is the Public Trustee of a state or territory or a prescribed trustee.
- Each trustee has agreed to comply with the rules in the public ancillary fund guidelines as in force from time to time.
- None of the trustees has revoked that agreement.
Transitional arrangements apply to public ancillary funds endorsed as DGRs before 1 January 2012. These funds:
- may generally retain non-corporate trustees
- are taken to have agreed to comply with the public ancillary fund guidelines from that date.
See also Public ancillary funds.
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Private ancillary fund
P.A.F
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A trust is a private ancillary fund if it meets all of the following:
- It is a fund established and maintained under a will or instrument of trust solely for the purpose of providing money, property or benefits to DGRs or the establishment of DGRs.
- Each trustee is a constitutional corporation.
- Each trustee has agreed to comply with the rules in the private ancillary fund guidelines as in force from time to time.
- None of the trustees has revoked that agreement.
Private ancillary funds prescribed as DGRs before 1 October 2009 may retain non-corporate trustees (with certain exceptions)
See also Private ancillary funds.
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Return to DGR table of categories able to obtain DGR endorsement.