Document ID: chunk:federal_register_of_legislation:C2025A00016:clause:6_292faa
Version: federal_register_of_legislation:C2025A00016
Segment Type: clause
Provision Reference: sch 6 cl 292FAA
Character Range: 275495–277533

292FAA  Permitted credits to federal account for registered political party, State branch or nominated entity
  For the purposes of subparagraph 292FA(4)(b)(ii), the following amounts may be credited to a federal account kept for the purposes of this Part in relation to a person or entity (the account beneficiary) covered by column 2 of item 2, 3 or 7 of the table in subsection 292FA(1):
 (a) interest earned on money standing to the credit of the account;
 (b) a loan;
 (c) a bequest;
 (d) an amount paid from another federal account kept for the purposes of this Part in relation to another person or entity that is a core member of the same expenditure group as the account beneficiary;
 (e) if the account beneficiary is a registered political party or a State branch of a registered political party—an amount paid from another federal account kept for the purposes of this Part in relation to another political party if:
 (i) the account beneficiary and the other political party are related to each other within the meaning of paragraph 123(2)(a) because one is a part of the other (while not being a State branch of the other); and
 (ii) the one that is a part of the other is a registered political party;
 (f) an amount of a kind prescribed by the regulations for the purposes of this paragraph.
Note 1: The effect of paragraph (b) is that a commercial loan or a non‑commercial loan can be credited to a federal account.
Note 2: The effect of paragraph (d) is that any amount can be credited to the federal account of a registered political party, a State branch or a nominated entity if the amount is paid from the federal account of a candidate, a member of the House of Representatives, a Senator, or another registered political party, State branch or nominated entity, and both the recipient and the payer are core members of the same expenditure group.
Note 3: There are penalties for crediting an amount to a federal account if the amount is not required or permitted to be credited: see subsections 292FA(4) and (8).