Pooled Development Funds Act 1992

PART 5 - MONITORING COMPLIANCE  

SECTION 40   BOARD TO CONSIDER COMPLIANCE ON RECEIPT OF ANNUAL RETURN  

40(1)   [When Board must consider compliance]  

As soon as practicable after the Board receives a return under section 41 from a PDF, the Board must consider whether the PDF has been complying with this Act since:

(a) if the Board has received from the PDF an earlier return, or earlier returns, under that section - the Board received the earlier return, or the last of the earlier returns, as the case requires; or

(b) otherwise - the day on which the PDF became a PDF.

40(2)   [Information to be regarded]  

In considering whether the PDF has been so complying, the Board must have regard to the information included in the first-mentioned return and to any other relevant information that is available to the Board.