sec.748Organisation must keep loans, grants and donations register

### sec.748 Organisation must keep loans, grants and donations register 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. Maximum penalty—40 penalty units. For subsection (1) , a payment of more than $1,000 is made to an entity in a financial year if— 1 or more payments are made to the entity in the financial year; and all of the payments added together are more than $1,000. The register must state the following for each payment— the amount of the payment and the reason for making it; if the payment was not a financial hardship payment— the name and address of the entity to whom it was made; and if it was a loan—the arrangements to repay the loan. (sec.748-ssec.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. Maximum penalty—40 penalty units. (sec.748-ssec.2) For subsection (1) , a payment of more than $1,000 is made to an entity in a financial year if— 1 or more payments are made to the entity in the financial year; and all of the payments added together are more than $1,000. (sec.748-ssec.3) The register must state the following for each payment— the amount of the payment and the reason for making it; if the payment was not a financial hardship payment— the name and address of the entity to whom it was made; and if it was a loan—the arrangements to repay the loan. - (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. - (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. - (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. - (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.