Co-operatives Act 1992 Regulation relating to requirements for accounts and accounting records (1994-154) [GG No 65 of 6.5.1994] (NSW)

1994—No. 154

CO-OPERATIVES ACT 1992—REGULATION

(Relating to requirements for accounts and accounting records)

NEW SOUTH WALES

[Published in Gazette No. 65 of 6 May 1994]

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.

G. B. WEST

Minister for Local Government and Co-operatives.

The Co-operatives (General) Regulation 1993 is amended by omitting from clause 27 (2) the words “first anniversary” and by inserting instead the words “second anniversary”.

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 1988 with respect to the keeping, preparation and auditing of certain accounts. This requirement is of a transitional nature and applies only until the first anniversary of the commencement of the Co-operatives (General) Regulation (21 May 1994). The object of this Regulation is to extend the requirement so that it applies for another year (that is, until 21 May 1995).

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