106Transfer of assets on winding up

#### 106 Transfer of assets on winding up 106 Transfer of assets on winding up > > (1) At the first occurrence of a winding up event, the Trust must transfer surplus assets of the Public Fund that can be deducted under the ITAA 1997, Division 30 to a tax exempt fund determined by the Minister. > > > (2) The Minister must give preference to tax exempt funds that operate principally in New South Wales. > > > (3) In this section— > > > > tax exempt fund means a public fund that is— > > > > > (a) on the register of environmental organisations kept under the ITAA 1997, Subdivision 30-E, and > > > > > (b) maintained for a similar purpose to the principal purpose of the Trust. > > > > winding up event means— > > > > > (a) the winding up of the Trust, or > > > > > (b) the winding up of the Public Fund, or > > > > > (c) the revocation of the Trust’s endorsement as a deductible gift recipient under the ITAA 1997, Division 30. > > **s 106:** Am 1993 No 78, Sch 1 (7). Rep 2016 No 63, Sch 11.5 \[11\]. Ins 2021 No 47, Sch 1.1\[17\].