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Legislative Assembly for the ACT: 2004 Week 04 Hansard (Thursday, 1 April 2004) . . Page.. 1611 ..

The Government believes that money collected from the public for charitable purposes should be regarded as money ‘held in trust’ until it is spent for the purpose specified.

The Act, following amendment, will still achieve this objective, but a trust deed for the account receiving the money will not be required.

Confusion as to the Act’s requirements in relation to trust bank accounts came to my Department’s attention during consultation on the regulations made under the Act. During this period the requirements of a trust bank account continued to generate questions from the public.

In summary, this Bill will amend the Charitable Collections Act 2003 by replacing the term ‘trust bank account’ with the term ‘bank account’ in section 45.

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