38Funding agreements with companies

38 Funding agreements with companies

(1) In relation to the operation of this Act, the Minister may, on behalf of the Commonwealth, enter into, or vary, an agreement with a body that is registered as a company under the Corporations Act 2001. (2) Without limiting subsection (1), the agreement may contain terms and conditions dealing with the following matters: (a) the management of any payments to the body under this Act, if the body is or becomes a declared recipient body; (b) any other matter in connection with the making of payments to the body under this Act, or the spending of those payments, if the body is or becomes a declared recipient body; (c) the monitoring of the body’s compliance with its obligations under this Act or the agreement, if the body is or becomes a declared recipient body; (d) the provision of information by the body to the Commonwealth about a matter covered by paragraph (a), (b) or (c). (3) The body must comply with the terms and conditions specified in the agreement. (4) The rules may make provision in relation to the entry into, or the variation of, funding agreements. Publishing requirements (5) If: (a) the Minister, on behalf of the Commonwealth, enters into a funding agreement with a body under this section; and (b) the body is not a declared recipient body at the time of entry into the agreement; and (c) the body later becomes a declared recipient body; then the body must publish a copy of the agreement on its website. (6) If: (a) the Minister, on behalf of the Commonwealth, enters into, or varies, a funding agreement with a body under this section; and (b) the body is a declared recipient body at the time of the entry into the agreement or of the variation; then the body must publish a copy of the agreement, or of the agreement as varied, on its website as soon as reasonably practicable after the day on which the agreement was entered into or the variation occurred.

Note: An agreement entered into as mentioned in paragraph (6)(a) may replace an earlier agreement with the body.