Associations must disclose remuneration and benefits to members
Queensland associations must disclose at their annual general meeting, any remuneration and other benefits given to:
- management committee members
- senior staff
- relatives of management committee members
- staff.
The details of what must be disclosed, and how, are subject to consultation before being set out in a regulation. The requirement will apply from the date on which the Regulation commences.
There are several difficult issues raised by this requirement including what is a benefit caught by this requirement, privacy, confidentiality, significance of benefit or payment in relation to the resources of the association, what is to be disclosed, what is to be reported to a regulator.
All associations should now have in place a system to record these payments and benefits and in due course report them.
All associations should now have a Related Party Transaction policy and an appropriate conflict of interest policy to help management committee members and executives effectively identify, disclose and manage any actual, potential or perceived conflicts of interest in order to protect the integrity of the association and manage risk.
Refer to the new laws for Incorporated Associations on the Queensland Government website
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