Victorian Current Acts Victorian Current ActsS. 3.7.4(1) amended by No. 28/2022 s. 61(a).
(1) A venue operator must keep accounting records that correctly record and explain the transactions and financial position of the operations of the venue operator.
Penalty: 60 penalty units.
S. 3.7.4(2) amended by No. 28/2022 s. 61(b)(i).
(2) A venue operator must keep the accounting records in the form required by the Commission and in a manner that will enable—
(a) true and fair financial statements and accounts to be prepared from time to time; and
S. 3.7.4(2)(b) amended by No. 28/2022 s. 61(b)(ii).
(b) true and fair community benefit statements to be prepared under section 3.6.9—
and for those financial statements, accounts and community benefit statements to be conveniently and properly audited.
Penalty: 60 penalty units.
S. 3.7.4(3) amended by No. 28/2022 s. 61(c).
(3) A venue operator must, as soon as practicable after the end of each financial year, prepare financial statements and accounts including—
(a) cash flow statements for the financial year; and
(b) profit and loss accounts for the financial year; and
(c) a balance-sheet as at the end of the financial year—
that give a true and fair view of the financial operations of the venue operator.
Penalty: 60 penalty units.