280Organisations to notify particulars of loans, grants and donations

#### 280 Organisations to notify particulars of loans, grants and donations 280 Organisations to notify particulars of loans, grants and donations > > (1) A State organisation must, as soon as practicable after the end of each financial year, lodge with the Industrial Registrar a statement showing the relevant particulars in relation to each loan, grant or donation of an amount exceeding $1,000. > > > (2) The statement must be signed by an officer of the organisation. > > > (3) The statement may be inspected at the office of the Industrial Registrar, during office hours, by a member of the organisation concerned. > > > (4) The relevant particulars, in relation to a loan made by a State organisation, are— > > > > > (a) the amount of the loan, and > > > > > (b) the purpose for which the loan was required, and > > > > > (c) the security given in relation to the loan, and > > > > > (d) the name and address of the person to whom the loan was made and the arrangements made for the repayment of the loan. > > > (5) The relevant particulars, in relation to a grant or donation made by a State organisation, are— > > > > > (a) the amount of the grant or donation, and > > > > > (b) the purpose for which the grant or donation was made, and > > > > > (c) the name and address of the person to whom the grant or donation was made. > > > (6) If default is made in complying with a provision of this section, the organisation is guilty of an offence. > > > > Maximum penalty (subsection (6)): 100 penalty units.