Accounts
20 Accounts
The Association shall cause proper accounts and records of its transactions in respect of the Fund to be kept.
The Association shall cause to be prepared within four months after the end of each financial year a financial report on the Fund which shall include—
a profit and loss account and a balance-sheet; and
a report on the Fund as at the end of the financial year—
and contain such information as is necessary to give a true and fair view of the financial transactions and state of affairs of the Fund.
The financial report prepared pursuant to subsection (2) shall be audited by the auditor referred to in section 11(3).
The Association shall as soon as is practicable after the end of each financial year and not later than the following 31 December submit to the Minister the financial report prepared pursuant to subsection (2) and the report of the auditor pursuant to subsection (3).
The Minister shall cause the financial report and the report of the auditor submitted to him under subsection (4) to be laid before the Legislative Council and the Legislative Assembly before the expiration of the fourteenth sitting day of the Legislative Council or the Legislative Assembly (as the case may be) after the financial report and the report of the auditor have been received by him.
The financial year of the Association shall be the year ending on 30 June.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.