15‑5 Objects of this Act15‑5 Objects of this Act

15‑5 Objects of this Act

(1) The objects of this Act are: (a) to maintain, protect and enhance public trust and confidence in the Australian not‑for‑profit sector; and (b) to support and sustain a robust, vibrant, independent and innovative Australian not‑for‑profit sector; and (c) to promote the reduction of unnecessary regulatory obligations on the Australian not‑for‑profit sector. (2) This Act achieves those objects by: (a) establishing a national regulatory framework for not‑for‑profit entities that reflects the unique structures, funding arrangements and goals of such entities; and (b) establishing the Commissioner of the Australian Charities and Not‑for‑profits Commission, who will: (i) be responsible for registering entities as not‑for‑profit entities according to their type and subtypes; and (ii) administer the national regulatory framework; and (iii) assist registered entities in complying with and understanding this Act, by providing them with guidance and education. (3) Registration is a prerequisite for an entity to access certain Commonwealth tax concessions. (4) Registration under this Act may also be a prerequisite for other exemptions, benefits and concessions provided under other Australian laws.