14Debts

#### 14 Debts 14 Debts > > (1) A Member shall disclose in a primary return and an ordinary return the name and address of each person to whom the Member was liable to pay any debt: > > > > > (a) in the case of a primary return—on the primary return date, or > > > > > (b) in the case of an ordinary return—at any time during the ordinary return period. > > > (2) A liability to pay a debt shall be disclosed by a Member in a primary return and an ordinary return whether or not the amount, or any part of the amount, to be paid was due and payable on the primary return date or at any time during the ordinary return period, as the case may be. > > > (3) A liability to pay a debt need not be disclosed by a Member in a primary return or an ordinary return if: > > > > > (a) the amount to be paid did not exceed $500 on the primary return date or at any time during the ordinary return period, as the case may be, unless: > > > > > > > (i) the debt was 1 of 2 or more debts which the Member was liable to pay to 1 person on the primary return date or at any time during the ordinary return period, as the case may be, and > > > > > > > (ii) the amounts to be paid exceeded, in the aggregate, $500. > > > > > (b) the Member was liable to pay the debt to a relative, > > > > > (c) in the case of a debt arising from a loan of money—the Member was liable to pay the debt to a bank, building society, credit union or other person whose ordinary business includes the lending of money and the loan was made in the ordinary course of business of the lender, or > > > > > (d) in the case of a debt arising from the supply of goods or services: > > > > > > > (i) the goods or services were supplied in the period of 12 months immediately preceding the primary return date or were supplied during the ordinary return period, as the case may be, or > > > > > > > (ii) the goods or services were supplied in the ordinary course of any occupation of the Member which is not related to his or her duties as a Member. > > **cll 14:** Am 2007 (112), Sch 1 \[14\].