Western Australian Repealed Acts Western Australian Repealed ActsThis legislation has been repealed.
(1) A dealer within
the meaning of the Securities Industry Act 1975 who carried on a business of
dealing in securities before the commencement of this Act shall, in relation
to a prescribed financial year —
(a)
prepare a true and fair profit and loss account and balance sheet on the basis
of such accounting principles (if any) and containing such information and
matters as were prescribed in that regard for the purposes of subsection (2)
of section 64 of the Securities Industry Act 1975 by regulations in force
under that Act immediately before the commencement of this Act; and
(b)
lodge the account and balance sheet with the Commission within the period of
two months (or, in the case of a body corporate, three months) after the
commencement of this Act together with an auditor’s report containing
the information and matters prescribed in that regard for the purposes of
subsection (2) of section 64 of that Act by regulations in force under that
act immediately before the commencement of this Act.
(2) The Commission
may, on application by a dealer and his auditor before the expiration of the
period of two months or, as the case requires, the period of three months
referred to in subsection (1) or, if that period has been extended pursuant to
an approval or approvals previously given under this subsection, before the
expiration of the period as so extended, approve an extension or further
extension of the period, and such an approval may be given subject to such
conditions (if any) as the Commission imposes.
(3) Where an approval
under subsection (2) in relation to a dealer is given subject to conditions,
the dealer shall comply with those conditions.
(4) In this section,
"prescribed financial year" in relation to a dealer means —
(a)
where the dealer is not a body corporate — a year ending on 30 June
before the commencement of this Act; and
(b)
where the dealer is a body corporate — a financial year of the body
corporate within the meaning of the Companies Act 1961 , that ended before the
commencement of this Act,
being a year or
financial year during which the dealer carried on business as a dealer and in
respect of which he would, but for the enactment of this Act, have been
required to lodge a profit and loss account and balance sheet under the
Securities Industry Act 1975 , but did not so do before the commencement of
this Act.