Govt Calls for Sector Input on New Regulator
Monday, 12th December 2011 at 1:54 pm
The Gillard Government has released the exposure draft legislation for the Australian Charities and Not-for-Profits Commission (ACNC), along with a discussion paper to gather community feedback on elements of a new reporting framework for charities.
The ACNC – due to be established by July 1st, 2012 – will determine charitable status (including public benevolent institution status) for all Commonwealth purposes, provide education and support to the sector and will administer a regulatory and reporting framework.
Assistant Treasurer Bill Shorten said the release of the exposure draft “is a great day for the sector”.
“The release of the exposure draft legislation and reporting framework paper for consultation provides the Not for Profit (NFP) sector and stakeholders the opportunity to further have their views heard in the development of the ACNC," Shorten said.
He said "…the release of this exposure draft marks a key milestone in the Government's NFP reform agenda."
The ACNC exposure draft sets out the central provisions that will establish the ACNC and provide the regulatory framework for the charities and NFP sector.
The exposure draft also contains detail on the ACNC’s enforcement powers, which require a new legislative authority.
The Federal Government has also released the first in a series of factsheets about the ACNC legislation. (view the factsheet here)
The discussion paper seeks feedback on the design and implementation of the new reporting framework for charities that will be administered by the ACNC and is a central platform for the Government's vision of 'report-once use-often' reporting for the NFP sector. The paper also seeks comments on the ACNC's public information portal, and the ACNC's educative role.
"The Government has consulted widely on the establishment of the ACNC, and the role, form and functions of the ACNC, and will continue to do so," Mr Shorten said.
Submissions on the ACNC exposure draft legislation are due on 20 January 2012. In order to have the ACNC in place and up and running by 1 July 2012, legislation for the ACNC needs to be ready to be introduced into Parliament in the first quarter of 2012.
The exposure draft and supporting documents can be found at www.treasury.gov.au under the Not-for-profit Reform section.
Submissions on the discussion paper on implementation design are due on 27 February 2012. The discussion paper can be found at http://acnctaskforce.treasury.gov.au.
Between 30 January and 13 February 2012 the ACNC Taskforce will conduct community consultations in each state and territory on the issues in this discussion paper. Further details are on the Taskforce website: http://acnctaskforce.treasury.gov.au.