The Committee recommends that, consistent with the Corporations
Act 2001, material personal interest disclosures should only be
required to be made to those officers whose duties relate to the financial
management of the organisation. Such disclosures should be recorded in the
minutes of the meetings of those officers and should be made available to
members on request.
The Committee recommends that a list of exclusions from the
obligations to disclose material personal interests based on section 191(2) of
the Corporations Act 2001 be inserted into the bill. This would narrow
the obligation to disclose material personal interests of an officer’s
relatives, so as to be consistent with the Corporations Act 2001.
The Committee recommends that the obligation placed on officers
to disclose every payment should be reduced with certain exclusions, including
limiting disclosures to payments made above a certain threshold.
The Committee recommends the bill be amended to allow the
Commissioner to grant exemptions from the training requirements if an
individual can demonstrate significant knowledge of the financial obligations
specified in the bill.
Subject to the foregoing recommendations, the committee
recommends that the bill be passed
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