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CORPORATIONS ACT 2001 - SECT 213
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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