September 12th, 2013
It's still unclear how many philanthropic funds are expected to apply to continue to keep their philanthropy private using an amended regulation through the national charity regulator, the ACNC. Private Ancillary Funds (PAFs) have the option to apply for privacy and confidentiality under a new privacy regulation, the Australian Charities and Not-for-profits Commission Amendment Regulation 2013 (No. 2), which came into effect on May 16, 2013. Philanthropy Australia CEO Louise Walsh says as the peak body it is engaged with the ACNC and Treasury in developing the amended regulation. “It's all about giving the PAFs the option to opt in or opt out of providing their information,” Walsh said. “In the end we are making sure that our PAF members clearly understand how to provide the information. We have sent out the ACNC application form to members. Some will be happy and other will not be happy but the ball will be in their court.”
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