(1) An organisation must, for each financial year, keep a written register stating the particulars mentioned in subsection (2) for each of the following (each a
"benefit" )—(a) any of the following given in the year by the organisation to a person other than an officer or employee of the organisation—(i) a gift that has a value of more than—(A) $150; or(B) if a higher value is prescribed by regulation—the higher value;(ii) a contribution, whether financial or non-financial, for the cost of travel undertaken or accommodation used by the person;(b) an amount or a non-cash benefit given in the year by the organisation to an officer or employee, other than an amount or benefit given—(i) as remuneration; or(ii) for the costs of travel undertaken or accommodation used by the officer or employee in an official capacity;(c) any of the following received in the year by an officer or employee of the organisation from an entity other than the organisation—(i) a gift received by the officer or employee in an official capacity that has a value of more than—(A) $150; or(B) if a higher value is prescribed by regulation—the higher value;(ii) a sponsored hospitality benefit.Penalty—Maximum penalty—40 penalty units.
(2) The register must state the following particulars for each benefit—(a) the name of the recipient of the benefit;(b) the name of the entity who gave the benefit;(c) a description of the benefit;(d) the value of the benefit;(e) the date the benefit was given.
(3) If an officer or employee of the organisation receives a benefit mentioned in subsection (1) (c) , the officer or employee must, within 30 days after the receipt, notify the organisation of the receipt.Penalty—Maximum penalty—40 penalty units.
(4) For subsection (1) (c) , a person does not receive a gift in an official capacity if—(a) the gift was given to the person by another person who is the first person’s spouse, other family member or friend; and(b) there could not be a perception of a conflict of interest, financial or otherwise, relating to the gift.
(5) An organisation must keep each register of benefits kept by it for at least 7 years after the period to which the register relates.Penalty—Maximum penalty—40 penalty units.