New South Wales Consolidated Acts

CO-OPERATIVES ACT 1992 - SECT 369L

369L Balance sheets

(cf Vic Act s 376)

(1) A foreign co-operative registered under this Part must, within 6 months (or such longer period as the Registrar may allow) of the end of each of its financial years, lodge with the Registrar:

(a) in the case of a participating co-operative, a copy of the balance sheet relating to its financial affairs as at the end of the financial year, in the form and with any accompanying documents required by the co-operatives law of the participating State concerned, and

(b) in the case of a non-participating co-operative, a copy of the balance sheet relating to its financial affairs as at the end of the financial year, in the form and with any accompanying documents required by the Registrar.

Maximum penalty: 20 penalty units.

(2) If the Registrar is of the opinion that a balance sheet lodged with the Registrar under this section does not sufficiently disclose the financial affairs of the foreign co-operative, the Registrar may, by written notice, require the foreign co-operative to give the Registrar further information or documents.

(3) A foreign co-operative must comply with a notice given to it under subsection (2) within the period specified in the notice.

Maximum penalty: 60 penalty units.