Commonwealth Consolidated Acts

MILITARY SUPERANNUATION AND BENEFITS ACT 1991 - SECT 26

             (1)  The Board must, as soon as practicable after the end of each financial year commencing after the commencement of this Act, prepare and give to the Minister:

                     (a)  a report on the performance of its functions during that year; and

                     (b)  financial statements in respect of the management of the Fund during that year in such form as is approved by the Minister and by the Board.

             (2)  Before giving the financial statements to the Minister, the Board must submit them to the Auditor‑General, who must report to the Minister:

                     (a)  whether the statements are based on proper accounts and records; and

                     (b)  whether the statements are in agreement with the accounts and records and show fairly the financial transactions and the state of the Fund; and

                     (c)  whether the receipt of money into the Fund, and the payment of money out of the Fund and the investment of money standing to the credit of the Fund, during the year have been in accordance with this Act and the Trust Deed; and

                     (d)  as to such other matters arising out of the statements as the Auditor‑General considers should be reported.

             (3)  The Minister must cause a copy of the report, and of the financial statements, prepared by the Board, together with a copy of the report of the Auditor‑General in respect of those financial statements, to be laid before each House of the Parliament within 15 sitting days of that House after the receipt of whichever of those documents was last received by the Minister.

             (4)  Where the Board has not complied with subsection (1) within a period of 6 months after the end of a financial year, the Board must, within 14 days after the end of that period, give to the Minister an interim report on the performance of its functions during that year together with interim financial statements in respect of the management of the Fund during that year.

             (5)  The financial statements given to the Minister under subsection (4) must be in the form approved by the Minister and the Board for the purposes of subsection (1) but need not be accompanied by a report of the Auditor‑General.

             (6)  Where the Board gives a report and financial statements to the Minister under subsection (4), the Minister must cause a copy of the report and a copy of the financial statements to be laid before each House of the Parliament within 15 sitting days of that House after their receipt by the Minister.