New regime proposed for Third Sector: charities and not-for-profit organisations

The Senate Standing Committee on Economics has released a report on charities and not-for-profit organisations.

The Committee's recommendations include:

• that the Government establish a unit within the Department of Prime Minister and Cabinet specifically to manage issues arising for Not-For-Profit Organisations. The unit should report to a Minister for the Third Sector;
• that there be a single independent national regulator for Not-For-Profit Organisations;
• that the Australian National Regulator for Not-For-Profit Organisations should have similar functions to regulators overseas, and particularly in the UK, including a compulsory Register for Not-For-Profit Organisations;
• that a single, mandatory, specialist legal structure be adopted for Not-For-Profit Organisations;
• that a National Fundraising Act be developed.