Document ID: chunk:federal_register_of_legislation:C2016A00079:clause:2_293bc
Version: federal_register_of_legislation:C2016A00079
Segment Type: clause
Provision Reference: sch 2 cl 293BC
Character Range: 68673–71134

293BC  Disclosure of certain remuneration and benefits by organisations and branches
 (1) An organisation must, for a financial year, disclose to the members of the organisation and its branches details of the following in accordance with subsection (3):
 (a) the identity of each officer of the organisation who, when all officers of the organisation are ranked by relevant remuneration for the financial year (from highest to lowest), is ranked no lower than fifth;
 (b) for each of those officers:
 (i) the actual amount of the officer's relevant remuneration for the financial year; and
 (ii) the value and form of the officer's relevant non‑cash benefits for the financial year.
 (2) A branch of an organisation must, for a financial year, disclose to the members of the branch, details of the following in accordance with subsection (3):
 (a) the identity of each officer of the branch who, when all officers of the branch are ranked by relevant remuneration for the financial year (from highest to lowest), is ranked no lower than fifth;
 (b) for each of those officers:
 (i) the actual amount of the officer's relevant remuneration for the financial year; and
 (ii) the value and form of the officer's relevant non‑cash benefits for the financial year.

Manner of disclosure
 (3) A disclosure under subsection (1) or (2) must be made as part of the officer and related party disclosure statement required under Division 3.
Note: Failure to prepare an officer and related party disclosure statement is a contravention of a civil penalty provision (see section 293J).

Relevant remuneration
 (4) For the purposes of this section, the relevant remuneration of an officer of an organisation or a branch of an organisation for a financial year is the sum of the following:
 (a) any remuneration disclosed to the organisation or the branch by the officer under subsection 293B(1) or (2), during the financial year;
 (b) any remuneration paid, during the financial year, to the officer by the organisation or the branch.

Relevant non‑cash benefits
 (5) For the purposes of this section, the relevant non‑cash benefits of an officer of an organisation or a branch of an organisation for a financial year are the non‑cash benefits provided to the officer, at any time during the financial year, in connection with the performance of the officer's duties as an officer, by the organisation or the branch or by a related party of the organisation or the branch.