Constitutes of “Novel Global Community Educational Foundation” (NGCEF) [according to policies of Australian Charities and Not-for-profits Commission (ACNC) and Register of Cultural Organisations (Established under Subdivision 30-F of the Income Tax Assessment Act 1997)]:

 

1. No one among responsible person or ordinary members or student consuls of ‘NGCEF’ can apply for any type of loan on the behalf of ‘NGCEF’ (for personal use) in any part of the world and if anyone breaches this rule, this person will be terminated automatically from ‘NGCEF’. 

The ‘NGCEF’ will not be responsible for his/her actions such as taking of loan. Therefore, we would like to request ACNC administration to please mention this point clearly on their register in the information of ‘NGCEF’ registration section that it is not eligible to borrow any amount of loan in any currency from anywhere in the world (for personal use).

 

2) Each NGCEF member, including responsible persons, should work on honorary / volunteer basis (no paid work) for all types of activities of NGCEF for the welfare of humanity in intellectual exchange, education and global unity among humanity.

 

3) NGCEF must not pay any of its profits or financial surplus, or give any of its property, to its responsible persons, members, beneficiaries, controllers or owners.

 

4) NGCEF has agreed to comply with any rules that the Treasurer and the Arts Minister make to ensure that gifts made to the fund for the Art/Culture section of NGCEF will be used only for its principal purpose of the Art/Culture section.

 

5) NGCEF has agreed to give the Arts/Culture Secretary, at intervals of 6 months, statistical information about gifts made to the public fund during the last 6 months.

 

6) Finance will not be distributed to members of the managing committee or trustees except as reimbursement for out-of-pocket expenses incurred on behalf of the fund or proper remuneration for administrative services.

 

7) NGCEF public fund will be maintained as follows:

  • Any money received in the form of gifts will be credited in our ANZ account
  • NGCEF will not receive any illegal/unethical money or property
  • In the case of the winding up of the fund, the rules mentioned in NGCEF guidelines will be followed

 

 

 

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