26Not‑for‑profit requirement

26 Not‑for‑profit requirement

For the purposes of paragraph 130(2)(b) of the Act, the matters that the Minister may have regard to for the purposes of determining whether a person satisfies the requirement in subsection 75(3), 84(3) or 92(3) of the Act are: (a) whether the person has not‑for‑profit status under a law of the Commonwealth, a State or a Territory; and (b) whether: (i) the person has financial policies and practices for a school in relation to which the person has applied to be an approved authority, block grant authority or non‑government representative body; and (ii) if so, the quality of those policies and practices; and (c) whether money derived from or relating to a school in relation to which the person has applied to be the approved authority, block grant authority or non‑government representative body: (i) has been applied for the purposes of the school or for the purposes of the functions of the authority or body; or (ii) has been distributed (whether directly or indirectly) to an owner of the authority or body or any other person; and (d) if the person is a body corporate—the requirements in any legislation under which the person is established, or in the person’s constitution.

Note: A law of the Commonwealth under which a person may have not‑for‑profit status is the Australian Charities and Not‑for‑profits Commission Act 2012.