sec.619Rules must give conditions for loans, grants and donations

### sec.619 Rules must give conditions for loans, grants and donations An organisation’s rules must state that the organisation or a branch of the organisation must not make donations, grants or loans totalling more than $1,000 (the payment ) to the same person unless the management committee of the organisation or branch— has approved the payment; and is satisfied the payment is not otherwise prohibited under the organisation’s rules; and if the payment is a loan—it is made on satisfactory terms. Despite subsection (1) , the rules may allow the organisation or a branch of the organisation to make a financial hardship payment of not more than $3,000 if it is made on condition that, if the organisation’s management committee at its next meeting does not approve the payment, it must be repaid as decided by the committee. In deciding whether to approve the payment, the management committee of the organisation or branch of the organisation must consider whether it was made under the rules and on satisfactory terms. For this section, a loan is made on satisfactory terms if the management committee of the organisation or branch is satisfied— the security to be provided for the loan is sufficient; and the proposed arrangements to repay the loan are satisfactory. (sec.619-ssec.1) An organisation’s rules must state that the organisation or a branch of the organisation must not make donations, grants or loans totalling more than $1,000 (the payment ) to the same person unless the management committee of the organisation or branch— has approved the payment; and is satisfied the payment is not otherwise prohibited under the organisation’s rules; and if the payment is a loan—it is made on satisfactory terms. (sec.619-ssec.2) Despite subsection (1) , the rules may allow the organisation or a branch of the organisation to make a financial hardship payment of not more than $3,000 if it is made on condition that, if the organisation’s management committee at its next meeting does not approve the payment, it must be repaid as decided by the committee. (sec.619-ssec.3) In deciding whether to approve the payment, the management committee of the organisation or branch of the organisation must consider whether it was made under the rules and on satisfactory terms. (sec.619-ssec.4) For this section, a loan is made on satisfactory terms if the management committee of the organisation or branch is satisfied— the security to be provided for the loan is sufficient; and the proposed arrangements to repay the loan are satisfactory. - (a) has approved the payment; and - (b) is satisfied the payment is not otherwise prohibited under the organisation’s rules; and - (c) if the payment is a loan—it is made on satisfactory terms. - (a) the security to be provided for the loan is sufficient; and - (b) the proposed arrangements to repay the loan are satisfactory.