New Public Ancillary Funds Trustee Handbook
Wednesday, 20th June 2012 at 10:33 am
Philanthropy Australia has released a new Public Ancillary Funds Trustee Handbook that is available as a free download.
From 1 January 2012 philanthropic trusts that are Public Ancillary Funds (PuAFs) are subject to detailed Guidelines; Public Ancillary Funds Guidelines 2011. The changes apply to new and existing (with transition arrangements) Public Ancillary Funds.
Philanthropy Australia says the Handbook comments on what is now required of trustees of PuAFs under the Guidelines and at law.
“It is not a legal document but a "plain English" introductory guide to the role and duties of the trustee and trustee directors,” the peak philanthropic body said.
It draws on general information on charitable trust governance contained in the Trustee Handbook: Roles and Duties of Trustees of Charitable Trusts and Foundations, published by Philanthropy Australia in 2012; along with detail about other charitable trust structures.
The Private Ancillary Funds Trustee Handbook 2009 provides guidance specifically for those funds.