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ASSOCIATIONS INCORPORATION REFORM ACT 2012 (NO. 20 OF 2012) - SECT 92 Obligation to prepare financial statements

ASSOCIATIONS INCORPORATION REFORM ACT 2012 (NO. 20 OF 2012) - SECT 92

Obligation to prepare financial statements

    (1)     As soon as practicable after the end of each financial year of the association, the committee of a tier one association must cause financial statements for that year to be prepared in accordance with subsection (2).

Penalty:     5 penalty units.

    (2)     The financial statements must—

        (a)     give a true and fair view of the financial position and performance of the association during and at the end of its last financial year; and

        (b)     deal with any matters prescribed by the regulations.