Commonwealth Authorities and Companies Act. Australia
Чтение книги онлайн.
Читать онлайн книгу Commonwealth Authorities and Companies Act - Australia страница 3
Название: Commonwealth Authorities and Companies Act
Автор: Australia
Издательство: Проспект
Жанр: Юриспруденция, право
isbn: 9785392081653
isbn:
(a) a body corporate that is incorporated for a public purpose by an Act;
(b) a body corporate that is incorporated for a public purpose by:
(i) regulations under an Act; or
(ii) an Ordinance of an external Territory (other than Norfolk Island) or regulations under such an Ordinance;
and is prescribed for the purposes of this paragraph by regulations under this Act.
(2) None of the following are Commonwealth authorities:
(a) Corporations Act companies;
(b) corporations registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006;
(c) associations that are organisations (within the meaning of the Fair Work (Registered Organisations) Act 2009).
(3) For the purposes of subsection (1), all money that a body holds is taken to be held by it on its own account, unless the money is public money as defined in section 5 of the Financial Management and Accountability Act 1997.
8 Role of Auditor-General
(1) The Auditor-General is to be the auditor of each Commonwealth authority.
(2) The Auditor-General is to audit the financial statements of each subsidiary of a Commonwealth authority (there are exceptions to this — see subsection 12(4)).
Note: If the Auditor-General is not the subsidiary’s auditor, this means that the Auditor-General has to do an audit of the statements in addition to that done by the subsidiary’s auditor.
Division 2
Reporting obligations
Subdivision A
Annual report and related obligations
9 Directors must prepare annual report
(1) The directors of a Commonwealth authority must:
(a) prepare an annual report in accordance with Schedule 1 for each financial year; and
(b) give it to the responsible Minister by the deadline for the financial year for presentation to the Parliament.
Note: Section 34C (other than subsection 34C(2)) of the Acts Interpretation Act 1901 applies to annual reports prepared under this section.
(2) The deadline is:
(a) the 15th day of the 4th month after the end of the financial year; or
Note: The deadline will be 15 October if the financial year ends on 30 June. Financial year is defined in section 5.
(b) the end of such further period granted under subsection 34C(5) of the Acts Interpretation Act 1901.
10 Modified requirements for first year of existence
(1) If a Commonwealth authority is established during the last 3 months of a financial year:
(a) the directors are not required to prepare an annual report for that financial year; and
(b) the period from the time of establishment to the end of the financial year must be dealt with in the next annual report.
(2) If a Commonwealth authority is established during the first 9 months of a financial year, the annual report for the financial year must cover the period from the time of establishment to the end of the financial year.
11 Contravention of annual report rules by directors
(1) A director of a Commonwealth authority contravenes this subsection if the director:
(a) causes a directors’ reporting rule to be contravened; or
(b) fails to take all reasonable steps to comply with, or secure compliance with, a directors’ reporting rule.
Note: This subsection is a civil penalty provision (see Schedule 2).
(1A) A director of the authority commits an offence if the director contravenes subsection (1) and the contravention is dishonest.
Penalty: 2,000 penalty units or imprisonment for 5 years, or both.
(2) If a contravention of a directors’ reporting rule consists of an omission from the financial statements, it is a defence if the defendant proves that the information omitted was immaterial and did not affect the giving of a true and fair view of the matters required by the Finance Minister’s Orders to be included in the statements.
(3) In this section:
directors’ reporting rule means section 9 or any of the requirements of Schedule 1 that impose obligations on the directors.
12 Audit of relevant subsidiary’s financial statements
(1) Subject to subsection (4), the directors of a Commonwealth authority must do whatever is necessary to ensure that all relevant subsidiary’s financial statements are audited by the Auditor-General.
(2) For a subsidiary that is a Corporations Act company that, under the Corporations Act 2001, is required to have those statements audited, the Auditor-General’s report on the subsidiary’s financial statements must be prepared using the relevant rules in the Corporations Act 2001. Those rules must also be used for other subsidiaries, so far as is practicable.
(3) The directors of the authority must give the report to the responsible Minister, together with a copy of the relevant subsidiary’s financial statements.
(4) Relevant financial statements of a subsidiary do not have to be audited by the Auditor-General if:
(a) the subsidiary is incorporated or formed in a place outside Australia; and
(b) either:
(i) under the law applying to the subsidiary in that place, the Auditor-General cannot be appointed as auditor of the subsidiary; or
(ii) in the Auditor-General’s opinion, it is impracticable or unreasonable for the Auditor-General to audit, or to be required to audit, the statements.
(5) In this section:
relevant subsidiary’s financial statements, in relation to a Commonwealth authority, means financial statements of an entity for an annual accounting period of the entity, where the entity is a subsidiary of the authority at the end of that accounting period.
Subdivision B
Other reporting obligations
13 Interim reports
(1) СКАЧАТЬ