No, but is possible to update the semester in which the Organisation is displayed. Either log a job with help@elearning.uq.edu.au and advise the semester / term the site is intended for or note this when requesting a site copy.
Alternatively you could set the Organisation to have a CPD term date which is not semester specific and runs from the 1 January to 31 December. An additional alternative is to select the "Other" as the term, you will need to include this instruction when you order your Organisational site.
Note that non-standard course sites or Organisation sites have maximum duration of 12 monthers before a copy needs to be requested.