(1) The rules of an
incorporated association must specify the following —
(a) the
name of the association;
(b) the
objects or purposes of the association;
(c) the
quorum for a general meeting of members of the incorporated association;
(d) the
quorum for a meeting of the management committee of the incorporated
association.
(2) The rules of an
incorporated association must include a provision in, or substantially in, the
following terms —
The property and income of the association must be
applied solely towards the promotion of the objects or purposes of the
association and no part of that property or income may be paid or otherwise
distributed, directly or indirectly, to any member of the association, except
in good faith in the promotion of those objects or purposes.
(3) Subject to
section 23, the rules of an incorporated association must at all times —
(a)
address each of the matters set out in Schedule 1 Division 1; and
(b)
comply with any applicable requirement under Schedule 1 Division 2; and
(c) be
otherwise consistent with this Act.
(4) The rules of an
incorporated association must include a reference to any exemption or approval
under section 23(1) or 25(1) and the effect of the exemption or approval.
(5) An incorporated
association is taken to have met the requirements of subsection (3) if the
association —
(a)
adopts the model rules without modification as its rules; and
(b)
provides to the Commissioner the information referred to in
section 7(3)(b)(ii) or 29(5), as the case requires.
(6) The rules of an
incorporated association that adopts the model rules are taken to include the
information provided by the association under section 7(3)(b)(ii) or 29(5).
(7) The application of
this section extends to an association that is, or is deemed to be, an
incorporated association immediately before the commencement of this section.