Corporations (Aboriginal and Torres Strait Islander) Act 2006

CHAPTER 7 - RECORD KEEPING, REPORTING REQUIREMENTS AND BOOKS  

PART 7-3 - REPORTING REQUIREMENTS  

Division 336 - Registrar may increase reporting requirements  

SECTION 336-5   REGISTRAR MAY REQUIRE ADDITIONAL REPORTS, OR OTHERWISE INCREASE REPORTING REQUIREMENTS, FOR CLASS OF CORPORATION  
Additional reports or additional reporting requirement

336-5(1)    
The Registrar may:

(a)    make a determination in writing requiring a particular class of Aboriginal and Torres Strait Islander corporation to prepare a report in addition to any general report or section 333-5 report the corporations are required to prepare; or

(b)    make a determination in writing requiring a particular class of Aboriginal and Torres Strait Islander corporation to:

(i) include particular additional information in a general report or section 333-5 report; or

(ii) meet particular additional requirements in relation to the manner in which a general report or section 333-5 report is prepared; or

(iii) provide a general report or section 333-5 report to their members (whether generally or on request); or

(iv) provide a general report or section 333-5 report to their members within the time, and in the manner, specified in the determination.

Note:

See Part 7-5 for the criteria the Registrar must apply in deciding whether to make a determination under this subsection.

336-5(2)    
A determination under subsection (1) is a legislative instrument.

Additional reports

336-5(3)    
A determination under paragraph (1)(a) must specify:

(a)    the information to be included in the report; and

(b)    any other requirements to be met in relation to the manner in which the report is prepared.

336-5(4)    
A determination under paragraph (1)(a) may require the report to be prepared:

(a)    for a particular period or periods; or

(b)    in relation to circumstances as they exist as at a particular date or dates.

This subsection does not limit subsection (3) .

336-5(5)    
The determination may require the report to be prepared for all periods of a particular kind that start or end on or after a date specified in the determination. This subsection does not limit subsection (4) .

336-5(6)    
A determination under paragraph (1)(a) may:

(a)    specify that the report is to be provided to the corporations ' members (whether generally or on request); and

(b)    specify the time within which, and manner in which, the report is to be provided to the members.

Additional requirements for financial report

336-5(7)    
If the section 333-5 report is a financial report, the Registrar may determine under paragraph (1)(b) that one or more of the following requirements are to be met in relation to the report:

(a)    a requirement that the financial report, or a part of it, be audited;

(b)    a requirement that the auditor be:

(i) an individual auditor who has particular qualifications or experience; or

(ii) an audit firm that has a member or members who have particular qualifications or experience; or

(iii) an authorised audit company;

(c)    a requirement that a person may only participate in the conduct of the audit in a particular capacity if the person has the qualifications or experience specified in the regulations;

(d)    a requirement that the audit of the report, or a part of it, be conducted in accordance with the auditing standards. This subsection does not limit paragraph (1)(b) .

Determinations

336-5(8)    
A determination under subsection (1) :

(a)    may be expressed to be subject to conditions; and

(b)    may be in respect of a past or future period but if it is in respect of a past period, the determination must be made no later than 6 years after the end of that period.

336-5(9)    
The Registrar may, in writing, revoke, vary or suspend a determination under subsection (1) .

Notice of determinations

336-5(10)    
Notice of the making, revocation, variation or suspension of a determination under subsection (1) must be published in the Gazette .