South Australian Numbered Acts

RETIREMENT VILLAGES (MISCELLANEOUS) AMENDMENT ACT 2005 (NO 67 OF 2005) - SECT 17

17—Amendment of section 10AAA—Interim financial reports

        (1)         Section 10AAA(1)—delete subsection (1) and substitute:

        (1)         An administering authority must, on the request of a resident or residents' committee, provide an interim financial report that incorporates 1 or more of the following, as requested by the resident or residents' committee:

            (a)         a statement of income received from residents, and expenditure of that income, for the relevant accounting period;

            (b)         a statement of estimates of income from residents, and expenditure of that income, for the balance of the financial year;

            (c)         a statement of income (from any source), and expenditure, for the relevant accounting period in respect of any contingency, sinking or other reserve fund or account established for the purpose of capital replacement or improvements, irregular long-term maintenance, or other similar items;

            (d)         a statement of estimates of income (from any source), and expenditure, for the balance of the financial year in respect of any fund or account referred to in paragraph (c);

            (e)         such other information as the regulations may require.

        (1a)         The administering authority must, if requested to do so by the resident or residents' committee, include as part of an interim financial report provided under subsection (1) copies of invoices substantiating expenditure for the relevant accounting period.

        (2)         Section 10AAA(5)—after "(1)," insert:

(1a),

        (3)         Section 10AAA(6)—after "(1)" wherever occurring insert in each case:

or (1a)