Document ID: chunk:federal_register_of_legislation:C2024C00345:section:152
Version: federal_register_of_legislation:C2024C00345
Segment Type: section
Provision Reference: s 152
Character Range: 263357–264585

152  Assets and liabilities agreements
 (1) The rules of an organisation of employees may authorise the organisation to enter into agreements with State unions setting out arrangements for the management and control of the assets and liabilities of the organisation and the State union concerned.
 (2) The agreements must be in the prescribed form.
 (3) If, under rules made under subsection (1), an organisation enters into an agreement with a State union, the organisation must lodge a copy of the agreement with the FWC.
Civil penalty: 60 penalty units.
 (4) The agreement does not come into force unless and until the General Manager enters particulars of the agreement in the register kept under subsection 13(1).
 (5) The General Manager must not enter particulars of the agreement in that register unless he or she has been directed by the FWC to do so.
 (6) The FWC must not give such a direction to the General Manager unless the FWC is satisfied that the agreement:
 (a) is not contrary to Parliament's intention in enacting this Act (see section 5) or any object of this Act or the Fair Work Act; and
 (b) does not adversely affect the interests of any lessor, lessee or creditor of the organisation or State union.