Queensland Consolidated Acts

INDUSTRIAL RELATIONS ACT 2016 - SECT 748

748 Organisation must keep loans, grants and donations register

(1) An organisation must, for each financial year, keep a written register stating the particulars mentioned in subsection (3) for each occasion it makes a loan, or gives a grant or donation, to an entity (each
"a payment" ) of more than $1,000 in the year.

Penalty—

Maximum penalty—40 penalty units.

(2) For subsection (1) , a payment of more than $1,000 is made to an entity in a financial year if—

(a) 1 or more payments are made to the entity in the financial year; and

(b) all of the payments added together are more than $1,000.

(3) The register must state the following for each payment—

(a) the amount of the payment and the reason for making it;

(b) if the payment was not a financial hardship payment—

(i) the name and address of the entity to whom it was made; and

(ii) if it was a loan—the arrangements to repay the loan.