On Wednesday, 15 August 2012, House Standing Committee on Economics presented its report entitled: Report on the Exposure Draft of the Australian Charities and Not-for profits Commission Exposure Draft Bills.
This report has come after numerous submissions from various parts of the sector.
The recommendations in the report covered the following areas;
- reduction of red tape,
- the meaning of Û÷public trust and confidenceÛª,
- the ability of the Commissioner to accept materials prepared for other reporting purposes,
- incorporating existing or sector-developed governance standards into legislation,
- strengthening protection in the Bills for private donors who wish to keep their philanthropy private,
- clarifying the intent and operation of Treasury redraft Division 180ÛÓObligations, liabilities and offences,
- notice and hearings prior to disciplinary action or before a decision is enforced to revoke the registration of an entity or suspending or remove responsible entities,
- clarification that the Commissioner has a discretion not to impose an administrative penalty,
- a review of the legislation after it has been in operation for five years.