Commonwealth Numbered Acts

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Small amounts given to director or spouse

(1) Member approval is not needed to give a financial benefit that is an amount of money for a director of the public company or their spouse or de facto spouse if the amount does not exceed $2,000 or a greater amount as prescribed by the regulations. (2) In working out the amount given:

add in all amounts previously given by the public company and any entities controlled by the public company to:

the director; or
their spouse; or
their de facto spouse; and

amounts that have been repaid; and
amounts that fall under any other exception in this Part.
For the purposes of this subsection, the time at which the entity must be controlled by the public company is the time at which the amount is given.

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