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CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) REGULATIONS 2017 (F2017L01311) - REG 23

Requirement for financial reports to be prepared in compliance with accounting standards

                   For the purposes of subsection 333-15(1) and paragraph 333-15(2)(e) of the Act, a financial report of an Aboriginal and Torres Strait Islander corporation must be prepared in compliance with the accounting standards:

                     (a)  to the extent that the accounting standards are capable of applying to an Aboriginal and Torres Strait Islander corporation; and

                     (b)  whether or not the corporation is, or would be, regarded as a reporting entity within the meaning of that term in the accounting standards.

Note:          For the definition of accounting standard , see section 700-1 of the Act.



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