ASSOCIATIONS INCORPORATION ACT 2015 - SECT 63
ASSOCIATIONS INCORPORATION ACT 2015 - SECT 63
63 . Financial reports of tier 2 and tier 3 associations
(1) The financial
report for a financial year of a tier 2 association or tier 3 association
consists of —
(a) the
financial statements for the year; and
(b) the
notes to the financial statements; and
(c) the
management committee’s declaration about the statements and notes.
(2) The notes to the
financial statements of an incorporated association are —
(a) the
disclosures required by the regulations; and
(b)
notes required by the accounting standards; and
(c) any
other information necessary to give a true and fair view of the financial
position and performance of the association.
(3) The management
committee’s declaration is a declaration by the management committee
stating —
(a)
whether, in the management committee’s opinion, there are reasonable
grounds to believe that the association will be able to pay its debts as and
when they become due and payable; and
(b)
whether, in the management committee’s opinion, the financial statements
and notes are in accordance with this Part.
(4) The management
committee’s declaration must —
(a) be
made in accordance with a resolution of the management committee; and
(b)
specify the date on which the declaration is made; and
(c) be
signed by at least 2 members of the management committee who are authorised to
do so by the management committee.