Outstanding statements and reports under Financial Management Act 1994
49 Outstanding statements and reports under Financial Management Act 1994
The new body must cause to be prepared, in accordance with Part 7 of the Financial Management Act 1994, the report of operations for the old body's final financial year if the old body had not prepared that report before the commencement day.
The new body's accountable officer must cause to be prepared, in accordance with Part 7 of the Financial Management Act 1994, the financial statements for the old body's final financial year if the old body's accountable officer had not prepared those statements before the commencement day.
The new body must, in accordance with Part 7 of the Financial Management Act 1994, submit the report of operations for the old body's final financial year if the old body had not submitted that report before the commencement day.
If the new body is required to submit a report under subsection (3), the report must be submitted as soon as practicable after it has been prepared.
The new body's accountable officer must, in accordance with Part 7 of the Financial Management Act 1994, submit the financial statements for the old body's final financial year if the old body's accountable officer had not submitted those statements before the commencement day.
If the new body's accountable officer is required to submit statements under subsection (5), those statements must be submitted—
within 8 weeks after the end of the old body's final financial year; or
if that period has already elapsed, as soon as practicable after the statements have been prepared.
The old body's final financial year is the period of 12 months ending at midnight on 30 June preceding the commencement day.
S. 50 inserted by No. 4/2020 s. 32.
This Act’s bill:Explanatory memorandumSecond reading speech
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