Queensland Consolidated Acts

COMMUNITY SERVICES (ABORIGINES) ACT 1984 - SECT 50

(1) The Minister may make accounting standards (Aboriginal Council Accounting Standards) about--

(a) the policies and principles to be complied with by Aboriginal councils in financial management, including, for example, internal audit; and

(b) the content of financial statements by Aboriginal councils; and

(c) the policies to be complied with by Aboriginal councils in relation to the lending of amounts to adult residents of council areas; and

(d) Aboriginal councils giving the Minister information on an annual basis about notional GST that may be paid by them; and

(e) any other matter that is required or permitted to be prescribed by standard.

(2) Before making a standard, the Minister must--

(a) consult with the auditor-general about the standard; and

(b) have regard to relevant standards made by appropriate professional bodies.

(3) The standards may include practice statements if the Minister considers a uniform standard of practice or procedure is necessary or desirable.

(4) A standard about the content of a policy mentioned in subsection (1)(c) may include--

(a) a model lending policy; or

(b) model provisions of a lending policy.

(5) A standard made under subsection (1) is subordinate legislation.