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 - Ancillary and community charity trust 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 or community charity trust 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 or community charity trust 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.

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 agreed, in accordance with paragraph 426-102(1)(b) , 426-105(1)(b) or 426-117(1)(c) , to comply with the rules in the *applicable trust fund guidelines as in force from time to time.

 

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