Co-operatives Act 1992 Regulation relating to requirements for accounts and accounting records (1995-124) [GG No 32 of 17.3.1995] (NSW)

1995—No. 124

CO-OPERATIVES ACT 1992—REGULATION

(Relating to requirements for accounts and accounting records)

NEW SOUTH WALES

[Published in Gazette No. 32 of 17 March 1995]

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.

TED PICKERING

Minister for Local Government and Co-operatives.

The Co-operatives (General) Regulation 1993 is amended by omitting from clause 27 (2) the words “second anniversary” and by inserting instead the words “third 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 second anniversary of the commencement of the Co- operatives (General) Regulation 1993 (21 May 1995). The object of this Regulation is to extend the requirement so that it applies for another year (that is, until 21 May 1996).

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).