Loans and Management contracts
Loan and management contracts in clubs
New requirements apply to registered clubs that enter into loan or management contracts. The new requirements complement earlier amendments to the Registered Clubs Act 1976 to protect clubs from private interests.
Clubs that propose to enter into prescribed loan or management contracts must notify club members of the proposed contract, and provide the Director General, NSW Trade & Investment, with a report one month before entering into the proposed contract.
Upon reviewing the proposed contract, if the Director General considers that it does not comply with the Registered Clubs Act 1976, or is not in the interests of the club and its members, the Director General may direct the club to:
- not enter into the contract,
- amend the contract either before or after entering into it, or
- terminate the contract if it has already been entered into.
Guidelines are available for download to help guide clubs through the notification and reporting requirements for proposed contracts under the registered club laws. The guidelines also help clubs to identify if a proposed contract falls within the requirements of section 41O of the Registered Clubs Act 1976.
A copy of the notice approved by the Director General is available for download.