Commonwealth Numbered Acts

FINANCIAL CORPORATIONS ACT 1974 No. 36 of 1974 - SECT 11

PART III-STATISTICS
11. (1) The regulations may require a registered corporation to furnish to the
Reserve Bank or to the Statistician, or to each of them, statements setting
out such information relating to the business of the corporation as is
specified in the regulations and, in particular, without limiting the
generality of the foregoing, may require a registered corporation so to
furnish statements in relation to all or any of the following matters:-

   (a)  the moneys borrowed or otherwise raised by the corporation during a
        particular period;

   (b)  the finance provided or investments made by the corporation during a
        particular period;

   (c)  the assets and liabilities of the corporation as at a particular time;

   (d)  the rates of interest paid by the corporation in respect of moneys
        borrowed by the corporation during a particular period; and

   (e)  the rates of interest charged by the corporation in respect of finance
        provided by the corporation during a particular period.

(2) Statements referred to in sub-section (1) shall-

   (a)  be prepared in accordance with such forms as are prescribed by the
        regulations and in accordance with such directions as are specified in
        those forms and such instructions (not inconsistent with those
        directions) as are given by the Reserve Bank; and

   (b)  be furnished before the expiration of such periods as are prescribed
        by the regulations.

(3) The Reserve Bank or the Statistician may, if it appears to the Reserve
Bank or the Statistician that the circumstances justify the Reserve Bank or
the Statistician in so doing, extend, or further extend, the period before the
expiration of which a statement referred to in sub-section (1) is required by
the regulations to be furnished to the Reserve Bank or the Statistician, as
the case may be.

(4) The regulations may-

   (a)  prescribe different forms of statements, and different periods within
        which statements are to be furnished, in relation to
        registered corporations included in different categories; and

   (b)  prescribe forms and periods that are to be applicable to a registered
        corporation the sum of the values (as ascertained in accordance with
        the regulations) of the assets of which exceeds a particular amount
        that are different from the forms and periods that are to be
        applicable to a registered corporation the sum of the values (as
        ascertained in accordance with the regulations) of the assets of which
        does not exceed that amount.

(5) Except as provided by paragraph (4) (b), the regulations shall not
prescribe different forms or periods in relation to registered corporations
included in the same category.

(6) Where a statement is furnished by a corporation to the Reserve Bank or to
the Statistician in accordance with a requirement of a regulation made for the
purposes of this section, the Reserve Bank or the Statistician, as the case
may be, may direct the corporation to furnish to the Reserve Bank or the
Statistician a further statement or further statements setting out such
additional information as is specified in the direction in relation to any
matter dealt with by the first-mentioned statement.

(7) Where the Reserve Bank or the Statistician has directed a corporation
under sub-section (6) to furnish a further statement or statements within a
particular period, the Reserve Bank or the Statistician, as the case may be,
may extend, or further extend, the period for the furnishing of the statement
or statements.

(8) A statement prepared by a corporation under this section shall be verified
by a statutory declaration made by a senior officer of the corporation.

(9) A form prescribed for the purposes of, or a direction given under, this
section shall not be such as to require the disclosure of information with
respect to the affairs of a particular person who has entered into a contract
or transaction with a corporation.

(10) A corporation that fails to prepare and furnish a statement in accordance
with a requirement of a regulation made for the purposes of, or a direction
given under, this section is guilty of an offence punishable, on conviction,
by a fine not exceeding $2,000.

(11) The Reserve Bank shall, if the Secretary to the Department of the
Treasury requests it to do so, furnish to him a copy of, or any information
contained in, a statement furnished to the Reserve Bank in pursuance of a
requirement of a regulation made for the purposes of, or a direction given
under, this section.

(12) Subject to section 22, from statements furnished to the Statistician in
pursuance of a requirement of a regulation made for the purposes of, or a
direction given under, this section, the Statistician shall, from time to
time, prepare and publish statements containing such information as the
Treasurer directs.

(13) The regulations may provide that, for the purposes of the application of
the regulations in relation to statements included in a specified class of
statements, any 2 or more corporations that are related to each other and are
included in the same category may, with the consent in writing of the Reserve
Bank or the Statistician, be treated as constituting a single corporation and
any transactions between those corporations disregarded accordingly, and,
where the regulations so provide, it is a sufficient compliance with a
requirement of the regulations that each of those corporations furnish such a
statement to the Reserve Bank or to the Statistician if a single statement is
so furnished in relation to all of those corporations on the basis that the
corporations concerned together constitute a single corporation.

(14) The Treasurer may, by writing signed by him, exempt a corporation from
the obligation to prepare and furnish a statement in accordance with
regulations made for the purposes of this Part.

(15) An exemption under sub-section (14) may be granted subject to such
conditions as are specified in the instrument of exemption.