On 25/05/2013,
you requested for the version in force on 25/05/2013
incorporating all amendments published on or before 25/05/2013.
The closest version currently available is that of 01/01/2004.
107.
—(1) The Minister may appoint any institution of a public character to be a Central Fund Administrator for the purposes of approving institutions of a public character and regulating the administration of donations made to an institution of a public character approved under section 37.
[21/2003]
(2) For the purposes of this section, the Minister may make regulations to provide for —
(a)
the manner and criteria to be adopted by Central Fund Administrators —
(i)
for the approval of institutions of a public character; and
(ii)
for the extension and revocation of the approval granted to institutions of a public character;
(aa)
the regulation of any amendment of the constitution or any other governing instrument of any institution of a public character approved under section 37;
(b)
the use of donations, issue of tax deduction receipts and maintenance of donation records and accounts by institutions of a public character approved under section 37; and
(c)
generally giving effect to or for carrying out the purposes of this section.
[21/2003]
(3) Where any Central Fund Administrator appointed by the Minister or any institution of a public character approved by the Minister, Comptroller or any Central Fund Administrator under section 37 contravenes any regulations made under subsection (2) —
(a)
the Central Fund Administrator or the institution of a public character, as the case may be, shall be liable to pay to the Comptroller a financial penalty of the higher of $100 or the amount ascertained by the formula
0.4 x the total value of the donations (as determined under section 37(3)) which ought not to be allowed a deduction under section 37(3) by reason of the contravention;
(b)
the Minister may revoke the appointment of the Central Fund Administrator; and
(c)
the Minister, Comptroller or the appropriate Central Fund Administrator may revoke the approval granted to the institution of a public character.
[21/2003]
(4) The Comptroller may remit or refund the whole or any part of the financial penalty payable by any Central Fund Administrator or approved institution of a public character under subsection (3)(a).
[21/2003]