Special Resolution for the consideration of members ahead of the 2024 AGM
Explanatory note:
Australia Tibet Council would like to apply to be listed as a deductible gift recipient (DGR). If successful, this would mean ATC would be entitled to receive gifts and donations which are ‘deductible’ from the donor’s income tax.
The changes to the constitution proposed in this special resolution are aimed at ensuring ATC has acceptable rules regarding the possible establishment of a fund, and for transferring surplus deductible contributions if the organisation were ever to be wound up or have its DGR status is revoked.
A special resolution must be passed by at least 75% of the votes cast by members entitled to vote on the resolution. The board strongly recommends this special resolution to ATC members.
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SPECIAL RESOLUTION
Special resolution to amend the constitution of the Australia Tibet Council
To amend the constitution to insert the following new clause 8A
“8A. Gift funds
8A.1 In furtherance of the company’s objects in clause 6, the company may open such bank accounts and do any thing or action required to operate and maintain a fund to receive and account for ‘gift funds’ as defined in clause 8A.2 if required by Australian law for the company to receive endorsement as a deductible gift recipient.
8A.2 For the purpose of this clause:
(a) ‘gift funds’ means:
(i) gifts of money or property for the principal purpose of the company,
(ii) contributions made in relation to a fund-raising event held for the principal purpose of the company, and
(iii) money received by the company because of such gifts and contributions.
(b) ‘contributions’ and ‘fund-raising event’ have the same meaning as in Division 30 of the Income Tax Assessment Act 1997 (Cth).
8A.3 If the company is wound up or if the endorsement (if any) of the company as a deductible gift recipient is revoked, any surplus gift funds remaining after the payment of liabilities attributable to it, shall be transferred to a fund, authority or institution with a charitable purpose(s) similar to, or inclusive of, the company’s purpose(s) in clause 6 to which income tax-deductible gifts can be made.
8A.4 In the event of any inconsistency between clause 8A.3 and clause 70 of this constitution, clause 8A.3 shall prevail in regards to surplus tax-deductible gift funds.”
Please refer to your AGM Notice for information on how to RSVP for the AGM meeting, how to view board candidate profiles and how to vote for the election of board members and the special resolution.