ABORIGINAL LANDS ACT 1970 - SECT 18A Financial reports
ABORIGINAL LANDS ACT 1970 - SECT 18A
Financial reports(1) A Trust must cause to be prepared—
(a) a balance-sheet as at the end of each financial year; and
(b) a profit and loss account in respect of each financial year.
(2) A balance-sheet must, when read in conjunction with a report by the committee of management under section 18B, give a true and fair view of the state of affairs of the Trust as at the end of the financial year.
(3) A profit and loss account must give a true and fair view of the profit or loss of the Trust for the financial year.
(4) A balance-sheet and profit and loss account prepared under subsection (1) must be audited by the auditor of the Trust.
S. 18B inserted by No. 33/2013 s. 12.