Amendments to the private and public ancillary fund guidelines
The Treasury has released an exposure draft of amendments to the Private Ancillary Fund Guidelines 2009 and the Public Ancillary Fund Guidelines 2011 for public consultation. The changes include:
- Introducing portability into the Private Ancillary Fund Guidelines 2009
- Removing red tape from certain reporting requirements
- Updating the investment strategy rules
- Reducing minimum annual distribution rate
- Clarifying that donors may make non-binding preferences known to the trustee of a public ancillary fund
- Updating spent or redundant references.
Any organisations or individuals who wish to comment on these amendments were invited to make a submission to The Treasury.
Submissions close on Friday 12 February 2016 and amendments are proposed to commence on 1 July 2016.