Australian Capital Territory Repealed Acts

This legislation has been repealed.

CO-OPERATIVE SOCIETIES ACT 1939 (REPEALED) NO 9 - SECT 42F

    (1)     The directors of a society that is a holding society at the end of a particular financial year shall make a report complying with this section and sections 42G and 42H.

    (2)     If at the end of the financial year the society was a wholly-owned subsidiary of another society the report need not comply with subsection (4) (e), (f), (g) and (h).

    (3)     Subsection (1) does not apply in relation to a society in relation to a financial year if—

        (a)     the society is dormant throughout the period beginning at the start of, and ending at the deadline after, the financial year; and

        (b)     each subsidiary of the society at any time during the financial year is dormant throughout so much of each period during which it is a subsidiary of the society as falls within the period referred to in paragraph (a).

    (4)     The report shall—

        (a)     state the names of the directors in office on the day the report is made; and

        (b)     state the principal activities of the group during the financial year and any significant change in the nature of those activities that occurred during the financial year; and

        (c)     state the net amount of the consolidated profit or loss of societies in the same group for the financial year after—

              (i)     provision for income tax; and

              (ii)     deducting any amounts that should properly be attributed to a person other than a subsidiary in the group; and

        (d)     state the amount (if any) that the directors recommend should be paid by way of dividend; and

        (e)     state the amounts (if any) that have been paid or declared by way of dividend since the start of the financial year, indicating which (if any) of those amounts have been shown in a previous report under this Act or a corresponding law; and

        (f)     contain a review of the group's operations during the financial year and of the results of those operations; and

        (g)     give particulars of any significant change in the group's state of affairs that occurred during the financial year; and

        (h)     give particulars of any matter or circumstance that has arisen since the end of the financial year and has significantly affected, or may significantly affect—

              (i)     the group's operations; or

              (ii)     the results of those operations; or

              (iii)     the group's state of affairs;

in later financial years; and

              (i)     refer to—

              (i)     likely developments in the group's operations; and

              (ii)     the expected results of those operations;

in later financial years.