Document ID: chunk:federal_register_of_legislation:C2013C00428:clause:1_148c:p1
Version: federal_register_of_legislation:C2013C00428
Segment Type: clause
Provision Reference: sch 1 cl 148C (pt 1/2)
Character Range: 35008–37564

148C  Rules to require disclosure of payments made by an organisation or a branch
 (1) The rules of an organisation must require the disclosure, to the members of the organisation and its branches, of either or both of the following:
 (a) each payment made by the organisation, during the disclosure period:
 (i) to a related party of the organisation or of a branch of the organisation; or
 (ii) to a declared person or body of the organisation;
 (b) in relation to:
 (i) each related party of the organisation or a branch of the organisation; and
 (ii) each declared person or body of the organisation;
  to which a payment was made by the organisation during the disclosure period—the total of the payments made by the organisation during the disclosure period to that related party or that declared person or body.
 (2) The rules of a branch of an organisation must require the disclosure, to the members of the branch, of either or both of the following:
 (a) each payment made by the branch, during the disclosure period:
 (i) to a related party of the branch; or
 (ii) to a declared person or body of the branch;
 (b) in relation to:
 (i) each related party of the branch; and
 (ii) each declared person or body of the branch;
  to which a payment was made by the branch during the disclosure period—the total of the payments made by the branch during the disclosure period to that related party or that declared person or body.
 (2A) Subsections (1) and (2) do not apply to a payment made to a related party if:
 (a) the related party is an officer of the organisation or the branch (as the case may be); and
 (b) the payment:
 (i) consists of remuneration paid to the officer by the organisation or the branch (as the case may be); or
 (ii) is reimbursement for expenses reasonably incurred by the officer in performing the officer's duties as an officer.
Note: Under section 148A the rules of the organisation or branch must require certain disclosures in relation to remuneration.
 (3) Subsections (1) and (2) do not apply to a payment made to a related party if the payment consists of amounts deducted by the organisation or the branch (as the case may be) from remuneration payable to one or more officers or employees of the organisation or the branch (as the case may be).
 (4) Rules made under subsection (1) or (2) must require the disclosures to be made:
 (a) in relation to:
 (i) each financial year; or
 (ii) each shorter period specified in the rules; and
 (b) within 6 months after the end of the financial year or shorter period, or