Document ID: chunk:federal_register_of_legislation:C2018A00147:clause:1_314ab
Version: federal_register_of_legislation:C2018A00147
Segment Type: clause
Provision Reference: sch 1 cl 314AB
Character Range: 109418–111635

314AB  Annual returns by registered political parties and political campaigners
 (1) The agent or financial controller of each registered political party, each State branch of each registered political party and each political campaigner must, subject to this Division, provide the Electoral Commission a return within 16 weeks after the end of a financial year that:
 (a) complies with subsection (2); and
 (b) is in an approved form.
Civil penalty:
The higher of the following:
 (a) 120 penalty units;
 (b) if an amount is not disclosed under paragraph (2)(a) or subparagraph (2)(b)(ii) and there is sufficient evidence for the court to determine the amount, or an estimate of the amount, not disclosed—3 times that amount.
 (2) The return must:
 (a) set out the following:
 (i) the total amount received by, or on behalf of, the party or campaigner during the financial year, together with the details required by section 314AC;
 (ii) the total amount paid by, or on behalf of, the party or campaigner during the financial year;
 (iii) the total outstanding amount, as at the end of the financial year, of all debts incurred by, or on behalf of, the party or campaigner, together with the details required by section 314AE;
 (iv) for political campaigners—the total amount of electoral expenditure incurred by or with the authority of the campaigner; and
 (b) include details of any discretionary benefits (however described) received by, or on behalf of, the party, branch or campaigner from the Commonwealth, a State or a Territory during the financial year; and
 (e) be complete.
 (3) The financial controller of a political campaigner that is taken to have incurred an amount of electoral expenditure in a financial year (the later financial year) under section 287J must provide:
 (a) a return for the financial year in which the expenditure was actually incurred that includes that expenditure; and
 (b) a separate return for the later financial year that does not include the expenditure that was taken under section 287J to have been incurred in that later financial year.
 (4) Subsection 93(2) of the Regulatory Powers Act does not apply in relation to a contravention of subsection (1) of this section.