Industrial Relations Act 2016

A reporting unit’s organisation must ensure that, as soon as practicable after the end of each financial year, the reporting unit’s management committee prepares an operating report for the financial year in accordance with this section.Maximum penalty—100 penalty units.

The operating report must—

contain a review of the reporting unit’s principal activities during the year, the results of the activities and any significant changes in the nature of the activities during the year; and

give details of any significant changes in the reporting unit’s financial affairs during the year; and

give details of the right of members to resign from the reporting unit under section 726; and

if subsection (3) applies, give details (including details of the position held) of any officer or member of the reporting unit who is—

a trustee of a superannuation entity or an exempt public sector superannuation scheme; or

a director of a company that is a trustee of a superannuation entity or an exempt public sector superannuation scheme; and

include a copy of the remuneration register the organisation is required under section 746 to keep for the financial year; and

include a copy of the loans, grants and donations register the organisation is required under section 748 to keep for the financial year; and

contain any other information that the reporting unit considers is relevant; and

contain any information prescribed by regulation.

For subsection (2)(d), this subsection applies if a criterion for the officer or member being the trustee or director of a superannuation entity or superannuation scheme as mentioned in that paragraph is that the officer or member is an officer or member of a registered organisation.

To remove any doubt, it is declared that the operating report may be prepared by the management committee or a designated officer.