Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An organisation must, within 90 days after the end of each financial year (or such longer period as the General Manager allows), lodge with the FWC a statement showing the relevant particulars in relation to each loan, grant or donation of an amount exceeding $1,000 made by the organisation during the financial year.
Civil penalty: 100 penalty units.
(2) A statement lodged with the FWC under subsection (1) must be signed by an officer of the organisation.
(3) An organisation must not, in a statement under subsection (1), make a statement if the person knows, or is reckless as to whether, the statement is false or misleading.
Civil penalty: 100 penalty units.
(4) A statement lodged with the FWC under subsection (1) may be inspected, during office hours, by a member of the organisation concerned.
(5) The relevant particulars, in relation to a loan made by an organisation, are:
(a) the amount of the loan; and
(b) the purpose for which the loan was required; and
(c) the security given in relation to the loan; and
(d) except where the loan was made to relieve a member of the organisation, or a dependant of a member of the organisation, from severe financial hardship--the name and address of the person to whom the loan was made and the arrangements made for the repayment of the loan.
(6) The relevant particulars, in relation to a grant or donation made by an organisation, are:
(a) the amount of the grant or donation; and
(b) the purpose for which the grant or donation was made; and
(c) except where the grant or donation was made to relieve a member of the organisation, or a dependant of a member of the organisation, from severe financial hardship--the name and address of the person to whom the grant or donation was made.
(7) Where an organisation is divided into branches:
(a) this section applies in relation to the organisation as if loans, grants or donations made by a branch of the organisation were not made by the organisation; and
(b) this section applies in relation to each of the branches as if the branch were itself an organisation.
(8) For the purposes of the application of this section in accordance with subsection (7) in relation to a branch of an organisation, the members of the organisation constituting the branch are taken to be members of the branch.