Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) A registered party or candidate (the receiver ) must not receive a loan of $1 500 or more from a person or entity (the lender ) that is not an ADI, unless the receiver complies with this section.
(2) The receiver of the loan must immediately make a record of the following:
(a) the terms of the loan;
(b) if the lender is a registered industrial organisation:
(i) the name of the organisation; and
(ii) the names and addresses of the members of the executive committee (however described) of the organisation;
(c) if the lender is an unincorporated body (other than a registered industrial organisation):
(i) the name of the body; and
(ii) the names and addresses of the members of the executive committee (however described) of the body;
(d) if the loan was paid out of a trust fund or the funds of a foundation:
(i) the names and addresses of the trustees of the fund or foundation; and
(ii) the title or other description of the trust fund, or the name of the foundation;
(e) if paragraphs (b), (c) and (d) do not apply to the loan – the name and address of the lender.
(3) For subsection (1), a person who is a candidate in an election is taken to remain a candidate for 30 days after election day for the election.
(4) If the receiver receives a loan to which subsection (1) applies but does not comply with subsection (2), the relevant person must pay to the Territory an amount equal to the amount of the loan.
(5) The amount payable under subsection (4) may be recovered by the Territory as a debt.
(6) For this section, if credit is given on a credit card for card transactions, each transaction is taken to be a separate loan.
(7) In this section:
"relevant person" means:
(a) for a loan to or for the benefit of a registered party:
(i) if the party is a corporation – the party; or
(ii) if subparagraph (i) does not apply – the reporting agent of the party; or
(b) for a loan to or for the benefit of a candidate – the candidate.