Australian Charities and Not-for-profits Commission (Consequential and Transitional) Act 2012
5Opt‑out
Start here
Get a plain-English read of 5
Turn the raw legal text into a practical explanation grounded in Australian Charities and Not-for-profits Commission (Consequential and Transitional) Act 2012.
5 Opt‑out
(1) This item applies to an entity that, during the period of 6 months starting on the commencement day, notifies the Commissioner of the ACNC, in the approved form, that the entity does not want this Part to apply to the entity.
(2) Divisions 1, 2 and 4 do not apply, and are taken never to have applied, to the entity.
(3) The Commissioner of Taxation is treated as having revoked, on the day before the commencement day, the entity’s endorsements mentioned in paragraphs 426‑5(a), (b), (c), (d), (e), (f), (g) and (h) in Schedule 1 to the Taxation Administration Act 1953 (whichever are applicable).