Commonwealth Consolidated Acts

COMMONWEALTH ELECTORAL ACT 1918 - SECT 306B

                   Where:

                     (a)  a political party, a candidate or a member of a group receives a gift from a corporation being a gift the amount of which exceeds $10,000; and

                     (b)  the corporation within a period concluding one year after making the gift has been wound up in insolvency or wound up by the court on other grounds;

an amount equal to the amount of the gift is payable by the political party to the liquidator and may be recovered by the liquidator as a debt due to the liquidator by action, in a court of competent jurisdiction against:

                     (c)  in the case of a gift to or for the benefit of a political party or a State branch of a political party:

                              (i)  if the party or branch, as the case may be, is a body corporate--the party or branch, as the case may be; or

                             (ii)  in any other case--the agent of the party or branch, as the case may be; or

                     (d)  in any other case--the candidate or a member of the group or the agent of the candidate or of the group, as the case may be.

Note 1:       The gift received by the liquidator is an asset of the corporation to be distributed under the provisions of the Corporations Act 2001 .

Note 2:       This section applies to gifts made after the commencement of this provision.

Note 3:       The dollar amount mentioned in this section is indexed under section 321A.