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1989 No. 12 INDUSTRIAL RELATIONS REGULATIONS - REG 107
Prescribed accounts-subsection 273 (1) of the Act
107. For the purposes of subsection 273 (1) of the Act, each of the following
accounts is prescribed in respect of each financial year of an organisation:
(a) an account of all the income and expenditure of the organisation
during the financial year, being an account that, without limiting the
generality of the foregoing, sets out (so far as applicable) the
following particulars of income or expenditure during the financial
year:
(i) the total amount paid to the organisation as entrance fees or
periodic contributions (in this regulation referred to as "membership
contributions") in respect of membership of the organisation;
(ii) where the organisation is divided into branches and the rules
of the organisation provide that each branch of the
organisation shall pay to the organisation, as a contribution
towards the administrative expenses of the organisation, a
proportion of the total amount received by the branch as
entrance fees or membership contributions-the total amount so
paid to the organisation by its branches;
(iii) where the organisation is a branch of another organisation and
the rules of the other organisation provide that the other
organisation shall pay to each of its branches, as a
contribution towards the administrative expenses of that
branch, a proportion of the total amount received by the other
organisation as entrance fees or membership contributions-the
total amount so paid to the first-mentioned organisation by the
other organisation;
(iv) the total amount paid to the organisation by its members in
respect of compulsory levies raised by the organisation or as
voluntary contributions for the furtherance of particular
purposes;
(v) the total amount of donations or grants (other than voluntary
contributions referred to in subparagraph (iv)) made to the
organisation;
(vi) the total amount received by the organisation as interest;
(vii) the total amount received by the organisation as dividends;
(viii) the total amount received by the organisation as income from
the investment or use of any moneys or other assets of the
organisation, other than any such income included in an amount
referred to in subparagraph (vi) or (vii);
(ix) the total amount paid by the organisation as fees and periodic
contributions in respect of its affiliation to any political
party, any federation, congress, council or group of
organisations, or any international body having an interest in
industrial matters;
(x) where the organisation is divided into branches and the rules
of the organisation provide that the organisation shall pay to
each of its branches, as a contribution towards the
administrative expenses of that branch, a proportion of the
total amount received by the organisation as entrance fees or
membership contributions-the total amount so paid by the
organisation to its branches;
(xi) where the organisation is a branch of another organisation and
the rules of the other organisation provide that each of its
branches shall pay to the other organisation, as a contribution
towards the administrative expenses of the other organisation,
a proportion of the total amount received by the branch as
entrance fees or membership contributions-the total amount so
paid by the first-mentioned organisation to the other
organisation;
(xii) the total amount paid by the organisation in respect of
compulsory levies imposed on the organisation;
(xiii) the total amount of donations or grants made by the
organisation;
(xiv) the total amount paid as remuneration to holders of offices in
the organisation;
(xv) the total amount paid as remuneration to employees of the
organisation;
(xvi) the total amount paid as fees or allowances (other than any
payment included in an amount referred to in subparagraph (xiv)
or (xv)) to persons in respect of their attendances as
representatives of the organisation at conferences or other
meetings;
(xvii) the total amount paid by the organisation in respect of audit
fees, legal expenses and any other expenses incurred in respect
of professional services;
(xviii) the total amount of expenses (other than expenses included in
an amount referred to elsewhere in this paragraph) incurred in
connection with meetings of members of the organisation and any
conferences or meetings of councils, committees, panels or
other bodies for the holding of which the organisation was
wholly or partly responsible;
(xix) the total amount paid by the organisation in respect of
administrative expenses other than any such expenses included
in an amount referred to elsewhere in this paragraph;
(xx) the total amount set aside by the organisation as provision for
payments in respect of long service leave entitlements to
officers and employees of the organisation;
(xxi) the total amount set aside by the organisation as provision for
payments in respect of annual leave entitlements to officers
and employees of the organisation;
(xxii) the total amount set aside by the organisation as provision for
the payment of superannuation or retirement benefits to, or
paid by the organisation as contribution to a superannuation or
retirement scheme applicable in relation to, officers or
employees of the organisation;
(xxiii) the total amount paid by the organisation in respect of
interest on loans to the organisation and any other expenses
incurred in connection with the control or management of the
assets of the organisation;
(xxiv) the total amount set aside by the organisation as provision for
depreciation or amortisation on investments and fixed assets;
(xxv) the total amount paid by the organisation in respect of
penalties imposed on the organisation under the Act or these
Regulations;
(xxvi) whether there is an excess of income over expenditure or an
excess of expenditure over income and, in either case, the
amount of that excess;
(xxvii) where any assets of the organisation have been sold for, or
revalued at, an amount exceeding $1,000-the amount of profit or
loss (as the case may be) arising from the sale or revaluation
of those assets;
(xxviii) where any amount (other than an amount included in an amount
referred to elsewhere in this paragraph) has been transferred
to a fund or account kept for a specific purpose by the
organisation or any such amount has been withdrawn from such a
fund or account-the total amount transferred to, or withdrawn
from, that fund or account, as the case may be;
(xxix) the net surplus or net deficit of the organisation that has
been transferred to the general fund;
(b) an account of the assets and liabilities of the organisation as at the
end of the financial year, being an account that, without limiting the
generality of the foregoing, sets out (so far as applicable) the
following particulars of assets or liabilities during the financial
year:
(i) the total amount of cash in hand;
(ii) the total amount of cash at bank;
(iii) the total amount of prepayments;
(iv) where the accounting records of the organisation are kept on an
accrual basis-the total amount of accounts receivable and the
total amount of loans receivable;
(v) the total book value of investments in Government, municipal
and other public debentures, stock or bonds;
(vi) the total book value of investments other than those specified
in subparagraph (v);
(vii) the total book value of the fixed assets of the organisation,
specifying separately the book value of any real property
included in those assets and the book value of other assets;
(viii) where the accounting records of the organisation are kept on an
accrual basis-the total amount of accounts payable and the
total amount of loans payable;
(ix) the total amount held as provision for payments in respect of
annual leave entitlements to officers and employees of the
organisation;
(x) the total amount held as provision for payments in respect of
long service leave entitlements to officers and employees of
the organisation;
(xi) the total amount held as provision for the payment of
superannuation or retirement benefits to officers and employees
of the organisation;
(xii) the total amount of contingent liabilities (other than
contingent liabilities included in an amount referred to
elsewhere in this paragraph), specifying separately the total
amount of unsecured contingent liabilities and the total amount
of contingent liabilities secured upon the assets of the
organisation;
(xiii) the total amount of the balances of all funds or accounts
operated by the organisation in respect of compulsory levies
raised by the organisation or voluntary contributions collected
from members of the organisation;
(xiv) where moneys, or the balance of moneys, standing to the credit
of a fund or account referred to in subparagraph (xiii) have
been invested in any assets-the total book value of those
assets;
(xv) the total amount of the balances of all funds (other than the
general fund or a fund referred to in subparagraph (xiii)) the
operation of which is required by the rules of the
organisation;
(xvi) the balance of the general fund.
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