sec.741Financial management training

### sec.741 Financial management training This section applies if the registrar approves financial management training for this section. The organisation must ensure each of its financial management officers completes, within 6 months after the relevant day— the approved financial management training; or training approved by— the general manager of the Fair Work Commission; and the registrar for the purposes of this section. Maximum penalty—40 penalty units. Subsection (2) does not apply in relation to a financial management officer who is exempt under subsection (4) . The registrar may exempt a financial management officer from completing training mentioned in subsection (2) if satisfied the officer— holds relevant or suitable qualifications in financial management; or is a member of an appropriate professional body for financial managers; or has sufficient relevant experience in financial management; or has completed training required by the Commonwealth Registered Organisations Act that corresponds, or substantially corresponds, with the training mentioned in subsection (2) . The registrar must publish information about financial management training approved for this section on the QIRC website. In this section— financial management officer , for an organisation, means an officer who holds an office that includes performing functions or exercising powers relating to the organisation’s financial management. relevant day means— if the officer is a financial management officer on the day the training is approved—that day; or otherwise—the day the officer becomes, or again becomes, a financial management officer. (sec.741-ssec.1) This section applies if the registrar approves financial management training for this section. (sec.741-ssec.2) The organisation must ensure each of its financial management officers completes, within 6 months after the relevant day— the approved financial management training; or training approved by— the general manager of the Fair Work Commission; and the registrar for the purposes of this section. Maximum penalty—40 penalty units. (sec.741-ssec.3) Subsection (2) does not apply in relation to a financial management officer who is exempt under subsection (4) . (sec.741-ssec.4) The registrar may exempt a financial management officer from completing training mentioned in subsection (2) if satisfied the officer— holds relevant or suitable qualifications in financial management; or is a member of an appropriate professional body for financial managers; or has sufficient relevant experience in financial management; or has completed training required by the Commonwealth Registered Organisations Act that corresponds, or substantially corresponds, with the training mentioned in subsection (2) . (sec.741-ssec.5) The registrar must publish information about financial management training approved for this section on the QIRC website. (sec.741-ssec.6) In this section— financial management officer , for an organisation, means an officer who holds an office that includes performing functions or exercising powers relating to the organisation’s financial management. relevant day means— if the officer is a financial management officer on the day the training is approved—that day; or otherwise—the day the officer becomes, or again becomes, a financial management officer. - (a) the approved financial management training; or - (b) training approved by— (i) the general manager of the Fair Work Commission; and (ii) the registrar for the purposes of this section. - (i) the general manager of the Fair Work Commission; and - (ii) the registrar for the purposes of this section. - (i) the general manager of the Fair Work Commission; and - (ii) the registrar for the purposes of this section. - (a) holds relevant or suitable qualifications in financial management; or - (b) is a member of an appropriate professional body for financial managers; or - (c) has sufficient relevant experience in financial management; or - (d) has completed training required by the Commonwealth Registered Organisations Act that corresponds, or substantially corresponds, with the training mentioned in subsection (2) . - (a) if the officer is a financial management officer on the day the training is approved—that day; or - (b) otherwise—the day the officer becomes, or again becomes, a financial management officer.