Co-operatives Act 1992 Regulation amending Co-operatives (General) Regulation 1993 (1996-131) [GG No 49 of 19.4.1996] (NSW)

CO-OPERATIVES ACT 1992—REGULATION

(Relating to requirements for accounting records)

NEW SOUTH WALES

[Published in Gazette No 49 of 19 April 1996]

HIS Excellency the Governor, with the advice of the Executive Council, and in pursuance of the Co-operatives Act 1992, has been pleased to make the Regulation set forth hereunder.

FAYE LO PO’, M.P.
Minister for Fair Trading.

The Co-operatives (General) Regulation 1993 is amended by omitting clause 27 (2) and by inserting instead the following subclause:

(2) This clause ceases to have effect at the end of 30 June 1997.

EXPLANATORY NOTE

At present, clause 27 of the Co-operatives (General) Regulation 1993 requires co-operatives registered under the Co-operatives Act 1992 to observe the requirements of the Co-operation (Accounts and Audit) Regulation l988 with respect to the keeping, preparation and auditing of certain accounts. This requirement is of a transitional nature and applies only until the third anniversary of the commencement of the Co-operatives (General) Regulation 1993 (21 May 1996). The object of this Regulation is to extend the requirement so that it applies until the end of 30 June 1997.

This Regulation is made under the Co-operatives Act 1992, in particular sections 243 (Requirements for accounts and accounting records) and 446 (the general regulation making power).