Document ID: chunk:federal_register_of_legislation:C2024C00492:section:6:p86
Version: federal_register_of_legislation:C2024C00492
Segment Type: section
Provision Reference: s 6 (pt 86/175)
Character Range: 388809–391736

or entity giving the benefit to the related party (see section 576‑25).
 (2) A person contravenes this subsection if they are involved in a contravention of section 284‑1 by a corporation or entity.
Note 1: This subsection is a civil penalty provision (see section 386‑1).
Note 2: Section 694‑55 defines involved in.
 (3) A person commits an offence if they are involved in a contravention of section 284‑1 by a corporation or entity and the involvement is dishonest.
Penalty: 2,000 penalty units or imprisonment for 5 years, or both.

284‑10  Exemptions
  An application may be made to exempt an Aboriginal and Torres Strait Islander corporation, or the directors of the corporation, from the requirements of this Part (see section 310‑5).

Division 287—Exceptions to the requirement for member approval

287‑1  Remuneration and reimbursement for officer or employee

Benefits that are reasonable remuneration to employees
 (1) Member approval is not needed to give a financial benefit if:
 (a) the benefit is remuneration to a related party as an employee of the following:
 (i) the corporation;
 (ii) an entity that the corporation controls;
 (iii) an entity that controls the corporation;
 (iv) an entity that is controlled by an entity that controls the corporation; and
 (b) to give the remuneration would be reasonable given:
 (i) the circumstances of the corporation or entity giving the remuneration; and
 (ii) the related party's circumstances (including the responsibilities involved in the employment, the employee's experience and performance record and the employee's length of service).

Remuneration of officers
 (2) If an Aboriginal and Torres Strait Islander corporation's constitution provides for the remuneration of officers, member approval is not needed to give a financial benefit if:
 (a) the benefit is remuneration to a related party as a director or officer of the following:
 (i) the corporation;
 (ii) an entity that the corporation controls;
 (iii) an entity that controls the corporation;
 (iv) an entity that is controlled by an entity that controls the corporation; and
 (b) to give the remuneration would be reasonable given:
 (i) the circumstances of the corporation or entity giving the remuneration; and
 (ii) the related party's circumstances (including the responsibilities involved in the office, the officer's experience and performance record and the officer's length of service).

Benefits that are payments of expenses incurred
 (3) Member approval is not needed to give a financial benefit if:
 (a) the benefit is payment of expenses incurred or to be incurred, or reimbursement for expenses incurred, by a related party in performing duties as an officer or employee of the following:
 (i) the corporation;
 (ii) an entity that the corporation controls;
 (iii) an entity that controls the corporation;
 (iv) an entity that is controlled by an entity that controls the corporation;