Document ID: chunk:federal_register_of_legislation:F2024C00262:reg:17:p1
Version: federal_register_of_legislation:F2024C00262
Segment Type: reg
Provision Reference: reg 17 (pt 1/3)
Character Range: 29353–32136

17  Rules of a collecting society—paragraphs 113W(d), 135ZZT(3)(d), 135ZZZO(7)(d) and 153F(6)(f) of the Act
 (1) For the purposes of paragraphs 113W(d), 135ZZT(3)(d) and 135ZZZO(7)(d) of the Act, the following provisions of rules of a collecting society are prescribed:
 (a) that accounting periods must be determined, in accordance with the rules, by the collecting society for accounting purposes and that no accounting period may extend beyond 30 June in any year;
 (b) that a consistent practice must be followed with regard to attributing the receipts and expenditure of the collecting society to a particular accounting period;
 (c) that the collecting society must exercise reasonable diligence in the collection of amounts of equitable remuneration, having regard to the expenses likely to be incurred in the collection of such amounts;
 (d) that the total amount of any gifts for cultural or benevolent purposes made by the collecting society in respect of any accounting period must not exceed such percentage of the total amount of equitable remuneration received by the society for that accounting period as is specified in the rules;
 (e) that the administrative costs and other outgoings of the collecting society paid by the society out of the amounts of equitable remuneration collected by it must be reasonable;
 (f) that the distributable amount relating to each accounting period of the collecting society must be allocated in accordance with a scheme of allocation (the scheme) that:
 (i) is determined in accordance with the rules; and
 (ii) includes criteria for allocation that are specified in the rules; and
 (iii) provides for the allocation of potential shares in the distributable amount to entitled persons;
 (g) that, in relation to each potential share in the distributable amount allocated in accordance with the scheme of the collecting society to an entitled person who is a member of the society at the time of allocation, an amount representing the share must be paid, as soon as is reasonably possible after the allocation, to the entitled person;
 (h) that, in relation to each potential share in the distributable amount allocated in accordance with the scheme of the collecting society to an entitled person who is not a member of the society at the time of allocation, an amount representing the share:
 (i) must be paid, as soon as is reasonably possible after the allocation, into a trust fund operated by the society for purposes referred to in paragraph (i); and
 (ii) subject to subparagraph (iii), must be held in that fund in accordance with the rules of the society; and
 (iii) if the entitled person becomes a member while the amount is held in the trust fund—must be distributed to the person as soon as is reasonably possible after