ASSOCIATIONS INCORPORATION ACT 1985 - SECT 34

ASSOCIATIONS INCORPORATION ACT 1985 - SECT 34

34—Application of Division to relevant prescribed associations

        (1)         Subject to this section, if a relevant prescribed association has, in respect of a particular period—

            (a)         submitted to the Commonwealth Commissioner an information statement that the association is required to prepare under the Commonwealth Act and, if relevant, a financial report together with any auditor's report or reviewer's report that the association is required to obtain under that Act; and

            (b)         submitted to the Commission any other information relevant to the affairs of the association required by the Commission,

the association is exempt from this Division in relation to that period.

        (2)         Despite subsection (1), a relevant prescribed association must cause—

            (a)         the information statement and any reports referred to in subsection (1)(a); and

            (b)         a report of a committee of the association prepared in accordance with section 35(5) (as modified by subsection (3)),

to be laid before the members of the association at the annual general meeting of the association or, if an annual general meeting is not to be held, within 6 months of the end of the financial year to which the reports relate.

        (3)         Despite subsection (1), section 35(5) applies to the committee of a relevant prescribed association as if a reference to the financial year to which the accounts relate were a reference to the financial year to which the information statement that the association is required to prepare under the Commonwealth Act relates.

        (4)         A document or information required to be provided to the Commission under this section must be provided in accordance with any requirements specified by the Commission (including requirements as to the form and verification of the document or information, or the time or manner in which it is to be provided).

        (5)         If a relevant prescribed association contravenes or fails to comply with this section, the association is guilty of an offence.

Maximum penalty: $5 000.