New South Wales Consolidated Acts

NATURE CONSERVATION TRUST ACT 2001 - SECT 27A

27A Public Fund

(1) The Trust is to establish and maintain a public fund for the principal purpose of the Trust.

(2) The fund is to be called the Nature Conservation Trust of New South Wales Public Fund.

(3) The Public Fund is not-for-profit.

(4) The following are to be held in the Public Fund:

(a) all gifts of money or property made for the principal purpose of the Trust that are to be made to the Public Fund under section 30-130 of the Commonwealth Income Tax Assessment Act,

(b) all contributions made in relation to a fundraising event held for the principal purpose of the Trust that are to be made to the Public Fund under section 30-130 of the Commonwealth Income Tax Assessment Act,

(c) any money received by the Trust because of such gifts or contributions.

(5) No other money or property is to be held in the Public Fund.

(6) Money and property held in the Public Fund may be used by the Trust only for its principal purpose.

(7) Money held in the Public Fund is to be paid into an account kept, for the purposes of the Public Fund, with an authorised deposit-taking institution.

(8) The Trust must comply with any requirements made of it in connection with registration as an environmental organisation under Subdivision 30-E of the Commonwealth Income Tax Assessment Act.

(9) In particular, the Trust must:

(a) comply with any rules made by the Treasurer and the Environment Minister under Subdivision 30-E of the Commonwealth Income Tax Assessment Act to ensure that gifts or contributions made to the Public Fund are used only for its principal purpose, and

(b) provide to the Environment Secretary under Subdivision 30-E of the Commonwealth Income Tax Assessment Act, within 4 months after the end of each financial year of the Trust, any statistical information about gifts or contributions made to the Public Fund during that financial year required for the purposes of compliance with that Act.

(10) The Trust must appoint a management committee to manage the Public Fund on its behalf.