New South Wales Consolidated Acts

REGISTERED CLUBS ACT 1976 - SECT 41K

41K Contracts in which member of governing body or top executive has interest

(1) A registered club must not enter into a contract with a member of the governing body of the club or a top executive, or with a company or other body in which such a member or top executive has a pecuniary interest, unless the proposed contract is first approved by the governing body of the club.

(2) Subsection (1) does not apply to a pecuniary interest if there are guidelines prescribed by the regulations and in force under section 41ZC at the time the relevant contract is entered into that include provisions to the effect that pecuniary interests of the type concerned are not pecuniary interests to which that subsection applies.

(3) Before entering into a contract, a registered club must make all reasonable inquiries to ensure that the provisions of subsection (1) are not contravened.

(4) When making any such inquiries as to whether a party to the proposed contract is or is not a person, company or body referred to in subsection (1), a registered club is entitled to rely on a statutory declaration from the party to the proposed contract (or, in the case of a company or other body that is a party to the proposed contract, from the chief executive officer of the company or body) that the party is or is not such a person, company or body.

(5) This section is subject to sections 41L, 41M and 41N.