Victorian Consolidated Regulations

VETERANS (PATRIOTIC FUNDS) REGULATIONS 2017 - REG 6

For the purposes of section 42(3) of the Act, the prescribed class of patriotic fund in respect of which the trustees of a patriotic fund are not required to arrange for the documents specified under section 42(2) of the Act to be duly audited is a patriotic fund with a gross income that does not exceed $10 000 for the year or part of a year ending on—

        (a)     30 June; or

        (b)     a different day specified by the Director.

Note

Despite section 42(3) of the Act, section 42(4) of the Act provides that if the documents required to be provided under section 42(2) of the Act relate to the year or part of a year ending on the day of the closing or winding up of the patriotic fund, the documents must be duly audited.