Commonwealth Numbered Acts

ABORIGINAL COUNCILS AND ASSOCIATIONS ACT 1976 No. 186 of 1976 - SECT 38

38. (1) An Aboriginal Council shall cause to be kept proper accounts and
records of the transactions and affairs of the Council and shall do all things
necessary to ensure that all payments out of the moneys of the Council are
correctly made and properly authorized and that adequate control is maintained
over the assets of, or in the custody of, the Council and over the incurring
of liabilities by the Council.

(2) An Aboriginal Council shall, as soon as practicable after each 30 June,
cause to be prepared a balance sheet setting out the assets and liabilities of
the Council as at that 30 June.

(3) An Aboriginal Council shall, as soon as practicable after a balance sheet
has been prepared under sub-section (2), cause a person having the prescribed
qualifications-

   (a)  to examine whether the balance sheet is based on proper accounts and
        records and is in agreement with those accounts and records; and

   (b)  to furnish to the Council a report of the results of that examination
        drawing attention to any irregularity in the financial affairs of the
        Council disclosed by that examination.

(4) The public officer of an Aboriginal Council shall, within 6 weeks after
the furnishing to the Council of a report under sub-section (3) with respect
to a balance sheet prepared under sub-section (2), file with the Registrar a
copy of that balance sheet and a copy of that report.

Penalty for any contravention of this sub-section: $50.