Document ID: chunk:federal_register_of_legislation:C2025C00152:clause:3_306b
Version: federal_register_of_legislation:C2025C00152
Segment Type: clause
Provision Reference: sch 3 cl 306B
Character Range: 743032–745388

306B  Repayment of gifts where corporations wound up etc.
 (1) This section applies if:
 (a) a registered political party, a significant third party, a candidate or a member of a group receives from a corporation a gift whose amount or value is more than the disclosure threshold; and
 (b) the corporation is wound up in insolvency, or by the court on other grounds, within a year of making the gift.
 (2) The amount or value of the gift is payable, and may be recovered by the liquidator as a debt due to the liquidator in a court of competent jurisdiction, by:
 (a) for a gift to or for the benefit of a registered political party or a significant third party (the gift recipient):
 (i) if the gift recipient is a body corporate—the gift recipient; or
 (ii) if the gift recipient is a registered political party that is not a body corporate—the agent of the gift recipient; or
 (iii) if the gift recipient is a significant third party that is not a body corporate—the financial controller of the gift recipient; or
 (b) for a gift to or for the benefit of a candidate or member of the group—the candidate or member, or the agent of the candidate or the group.
Note: The gift received by the liquidator is an asset of the corporation to be distributed under the provisions of the Corporations Act 2001.
 (3) Despite subsection 287(9), for the purposes of this section, a person who is a candidate in an election or by‑election:
 (a) is taken to begin to be a candidate in the election or by‑election on the earlier of the following days:
 (i) the day that is 6 months before the day the person announced that the person would be a candidate in the election or by‑election;
 (ii) the day that is 6 months before the day the person nominated as a candidate in the election or by‑election; and
 (b) is taken to cease to be a candidate in the election or by‑election at the end of 30 days after the polling day in the election or by‑election.
 (4) Despite subsection 287(9), for the purposes of this section, a group:
 (a) is taken to begin to be a group in an election on the day that is 6 months before the day the members of the group make a request under section 168 for their names to be grouped in the ballot papers for the election; and
 (b) is taken to cease to be a group in the election at the end of 30 days after the polling day in the election.