Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An organisation must, for a financial year and in accordance with subsection (3), disclose to the members of the organisation and its branches, details of each payment made by the organisation during the financial year:
(a) to a related party of the organisation or of a branch of the organisation; or
(b) to a declared person or body of the organisation.
(2) A branch of an organisation must, for a financial year and in accordance with subsection (3), disclose to the members of the branch each payment made by the branch, during the financial year:
(a) to a related party of the branch; or
(b) to a declared person or body of the branch.
(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).
(4) 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; and
(b) the payment:
(i) consists of remuneration paid to the officer by the organisation or the branch; or
(ii) is reimbursement for expenses reasonably incurred by the officer in performing the officer's duties as an officer.
Note: Section 293B requires certain disclosures in relation to remuneration.
(5) 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 from remuneration payable to one or more officers or employees of the organisation or the branch (as the case may be).
Arm's length terms
(5A) Subsections (1) and (2) do not apply to a payment made to a related party if the payment is made on terms that:
(a) would be reasonable in the circumstances if the organisation, or the branch, and the related party were dealing at arm's length; or
(b) are less favourable to the related party than the terms referred to in paragraph (a).
Small amounts given to related party
(5B) Subsections (1) and (2) do not apply to a payment made to a related party if the total of the following amounts is less than or equal to the amount prescribed by the regulations for the purposes of this subsection:
(a) the amount of the payment;
(b) the total of all other payments given to the related party, in the financial year, in relation to which subsections (1) and (2) do not apply to the payment because of this subsection.
(5C) In working out the total of the payments referred to in paragraphs (5B)(a) and (b) disregard:
(a) amounts that have been repaid; and
(b) amounts that fall under any other exception in this section.
Payments to members that do not discriminate unfairly
(5D) Subsections (1) and (2) do not apply to a payment made to a related party if:
(a) the payment is given to the related party in their capacity as a member of the organisation or the branch; and
(b) making the payment does not discriminate unfairly against the other members of the organisation or the branch.
(6) For the purposes of this section, a person or body is a declared person or body of an organisation or a branch of an organisation if:
(a) an officer of the organisation or the branch has disclosed a material personal interest under subsection 293C(2) or (3) or 293D(1); and
(b) the interest relates to, or is in, the person or body; and
(c) the officer has not notified the organisation or the branch that the officer no longer has the interest.