Veterans (Patriotic Funds) Regulations 2017

Authorised by the Chief Parliamentary Counsel Authorised Version i Veterans (Patriotic Funds) Regulations 2017 S.R. No. 107/2017 TABLE OF PROVISIONS Regulation Page 1 Objectives 1 2 Authorising provision 2 3 Revocation 2 4 Commencement 2 5 Definition 2 6 Prescribed class of patriotic fund 2 7 Prescribed time period 3 ═════════════ Endnotes 4 -- 1 of 5 -- Authorised by the Chief Parliamentary Counsel Authorised Version 1 STATUTORY RULES 2017 S.R. No. 107/2017 Veterans Act 2005 Veterans (Patriotic Funds) Regulations 2017 The Governor in Council makes the following Regulations: Dated: 24 October 2017 Responsible Minister: MARLENE KAIROUZ Minister for Consumer Affairs, Gaming and Liquor Regulation JONATHAN BURKE Acting Clerk of the Executive Council 1 Objectives The objectives of these Regulations are to prescribe— (a) the class of patriotic fund in respect of which the trustees of a patriotic fund are not required to arrange for the documents specified under section 42(2) of the Veterans Act 2005 to be duly audited; and (b) the time period by which any money that is received by, or on behalf of, a patriotic fund must be paid into an ADI. -- 2 of 5 -- Veterans (Patriotic Funds) Regulations 2017 S.R. No. 107/2017 2 Authorised by the Chief Parliamentary Counsel 2 Authorising provision These Regulations are made under section 86 of the Veterans Act 2005. 3 Revocation The Veterans (Patriotic Funds) Regulations 2008 1 are revoked. 4 Commencement These Regulations come into operation on 1 November 2017. 5 Definition In these Regulations— the Act means the Veterans Act 2005. 6 Prescribed class of patriotic fund For the purposes of section 42(3) of the Act, the prescribed class of patriotic fund in respect of which the trustees of a patriotic fund are not required to arrange for the documents specified under section 42(2) of the Act to be duly audited is a patriotic fund with a gross income that does not exceed $10 000 for the year or part of a year ending on— (a) 30 June; or (b) a different day specified by the Director. Note Despite section 42(3) of the Act, section 42(4) of the Act provides that if the documents required to be provided under section 42(2) of the Act relate to the year or part of a year ending on the day of the closing or winding up of the patriotic fund, the documents must be duly audited. -- 3 of 5 -- Veterans (Patriotic Funds) Regulations 2017 S.R. No. 107/2017 3 Authorised by the Chief Parliamentary Counsel 7 Prescribed time period For the purposes of section 45(1) of the Act, the prescribed time by which monies received by, or on behalf of, the trustees of a patriotic fund must be paid into an ADI is 90 days from the date the money was received by, or on behalf of, the trustees of the patriotic fund. ═════════════ -- 4 of 5 -- Endnotes Veterans (Patriotic Funds) Regulations 2017 S.R. No. 107/2017 4 Authorised by the Chief Parliamentary Counsel Endnotes 1 Reg. 3: S.R. No. 19/2008. -- 5 of 5 --