Tax Laws Amendment (2011 Measures No. 7) Act 2011 (147 of 2011)

Schedule 8   Ancillary funds

Part 1   Public ancillary funds

Division 1   Main amendment

Taxation Administration Act 1953

11   Section 426-1 in Schedule 1

Omit:

Subdivision 426-D deals with a type of private philanthropic trust fund known as a private ancillary fund .

substitute:

Subdivision 426-D deals with types of philanthropic trust funds known as public ancillary funds and private ancillary funds .