(1) As soon as practicable after the end of each
financial year, the committee of a Tier 2 association must cause financial
statements for that year to be prepared, in accordance with this section, in
relation to the association's financial affairs (including its affairs as
trustee of any trust).
: Maximum penalty--5 penalty units.
(2) The financial
statements must give a true and fair view of the association's affairs and
must deal with such matters as are prescribed by the regulations.
