Commonwealth Numbered Regulations

1989 No. 12 INDUSTRIAL RELATIONS REGULATIONS - REG 107

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.