Overview
Last Friday, 6 July 2012, Federal Treasury released the second
draft of the Australian Charities and Not-for-profits Commission
(ACNC) Bill and immediately referred it and associated Bills to the
House of Representatives Standing Committee on Economics for an
inquiry. The Government also announced it is still their intention
to introduce this legislation into Parliament in August this year
in order that the commencement date of 1 October for the ACNC to be
established as the national regulator is achieved.
The revised Draft Bill essentially maintains the core proposals
of regulation and financial reporting set out in the earlier draft
although with some very important changes and exemptions to apply
compared to previous announcements. We welcome these changes as
they address many of the concerns we raised in our earlier
submissions. This includes certain exemptions for elements of
religious organisations. Nevertheless we continue to have concerns
about a
