Document ID: chunk:federal_register_of_legislation:C2004A01041:clause:1b_237
Version: federal_register_of_legislation:C2004A01041
Segment Type: clause
Provision Reference: sch 1B cl 237
Character Range: 310550–313128

237  Organisations to notify particulars of loans, grants and donations

 (1) An organisation must, within 90 days after the end of each financial year (or such longer period as the Registrar allows), lodge in the Industrial Registry a statement showing the relevant particulars in relation to each loan, grant or donation of an amount exceeding $1,000 made by the organisation during the financial year.

Note: This subsection is a civil penalty provision (see section 305).

 (2) A statement lodged in the Industrial Registry under subsection (1) must be signed by an officer of the organisation.

 (3) An organisation must not, in a statement under subsection (1), make a statement if the person knows, or is reckless as to whether, the statement is false or misleading.

Note: This subsection is a civil penalty provision (see section 305).

 (4) A statement lodged in the Industrial Registry under subsection (1) may be inspected at any registry, during office hours, by a member of the organisation concerned.

 (5) The relevant particulars, in relation to a loan made by an organisation, are:
 (a) the amount of the loan; and
 (b) the purpose for which the loan was required; and
 (c) the security given in relation to the loan; and
 (d) except where the loan was made to relieve a member of the organisation, or a dependant of a member of the organisation, from severe financial hardship—the name and address of the person to whom the loan was made and the arrangements made for the repayment of the loan.

 (6) The relevant particulars, in relation to a grant or donation made by an organisation, are:
 (a) the amount of the grant or donation; and
 (b) the purpose for which the grant or donation was made; and
 (c) except where the grant or donation was made to relieve a member of the organisation, or a dependant of a member of the organisation, from severe financial hardship—the name and address of the person to whom the grant or donation was made.

 (7) Where an organisation is divided into branches:
 (a) this section applies in relation to the organisation as if loans, grants or donations made by a branch of the organisation were not made by the organisation; and
 (b) this section applies in relation to each of the branches as if the branch were itself an organisation.

 (8) For the purposes of the application of this section in accordance with subsection (7) in relation to a branch of an organisation, the members of the organisation constituting the branch are taken to be members of the branch.

Part 3—Accounts and audit

Division 1—Preliminary