STATUTORY RULES.
1934. No. 67.
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REGULATIONS UNDER THE AUSTRALIAN BROADCASTING COMMISSION ACT 1932.
I, THE GOVERNOR‑GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Australian Broadcasting Commission Act 1932.
Dated this eleventh day of April, 1934.
ISAAC A. ISAACS
Governor‑General.
By His Excellency’s Command,
H. S. W. LAWSON
Acting Postmaster‑General.
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Broadcasting Commission Regulations.
Short title.
1. These Regulations may be cited as the Broadcasting Commission Regulations.
Statement and balance‑sheet
2. The profit and loss statement and the balance‑sheet to be furnished by the Commission in pursuance of section 32 of the Australian Broadcasting Commission Act 1932 shall be prepared in accordance with Form A and Form B, respectively, in the Schedule to these Regulations.
Notified in the Commonwealth Gazette on 7th June, 1934.
788.—Price 3d.
THE SCHEDULE.
Regulation 2. Form A.
The Australian Broadcasting Commission.
PROFIT AND LOSS STATEMENT FOR YEAR ENDED 30th JUNE, 193
Previous Year. | Expenditure. | 193‑ | Previous Year. | Revenue. | 193‑3 |
£ | | £ | £ | | £ |
| To— Artist’s Fees and Programme Expenses..... (Payments to artists, orchestras, lecturers, announcers, accompanists and production coats) | | | By— Revenue from Licence Fees............ | |
| |
| | | Interest on Investments............... | |
| |
| | | Other Revenue.................... | |
| | | | |
| | | | |
| Copyright Fees.................... | | | | |
| Broadcasting Rights................. | | | | |
| Rental of Telephone Lines for Broadcasting and Outside Pick‑up Costs | | | | |
|
| Commissioners’ Fees................ | | | | |
| Staff Salaries...................... | | | | |
| Rent of Offices and Furniture........... | | | | |
| Publicity ........................ | | | | |
| Contributions to Staff Provident Fund..... | | | | |
| Depreciation...................... | | | | |
| Interest on Debentures............... | | | | |
| Preliminary Expenses written off........ | | | | |
| Other Expenses.................... | | | | |
| Balance carried down | | | | |
| | | | | |
| To— | | | By— | |
| Transfer to Sinking Funds............. | | | Balance brought down | |
| Transfer to Reserve Fund............. | | | | |
| Balance to Accumulated Fund.......... | | | | |
| | | |
Regulation 2. Form B.
The Australian Broadcasting Commission.
BALANCE‑SHEET AS AT
Previous Year. | Liabilities. | 193 ‑ | Previous Year. | Assets. | 193 ‑3 |
£ | £ | £ | £ | £ | £ |
| Debentures........................ | | | Land and Buildings.................................................... | |
| Add accrued in interest............... | | | Freehold......................... | |
| | | | | Leasehold........................ | |
| Loan from Commonwealth Government.... | | | Less Depreciation | | |
| Bank Overdraft.............. | | | Office Furniture, | |
| Sundry Creditors............. | | | Musical Instruments and Equipment...... | |
| Sinking Funds............... | | | Less Depreciation............. | | |
| | | | Stores and Stationery.......... | |
| | | | Sundry Debtors.............. | |
| | | | Postmaster General for Licence Fees...... | |
| | | | Other........................... | |
| Reserve Fund............... | | | Payments in Advance.................................................. | | |
| | | | Sinking Fund Investments............................................... | |
| | | | Other Investments .................................................... | |
| | | | Government Securities............... | |
| | | | Fixed Deposits .................... | |
| | | | Other Securities.................... | |
| Accumulated Fund............ | | | Add secured interest | | |
| Add Less Balance from Profit and Loss Statement | | | Cash in hand and at Bank................................................ | |
| | Preliminary Expenses |
| | | | | |
|
Accountant (or Secretary).
Chairman of Commission.
(Audit Certificate).
____________________
By Authority: L. F. Johnston, Commonwealth Government Printer, Canberra.
Overview
The Broadcasting Commission Regulations 1934 were established under the Australian Broadcasting Commission Act 1932 to provide detailed instructions on the financial reporting requirements of the Australian Broadcasting Commission. Enacted by the Governor-General in Council, these regulations were designed to ensure that the Commission’s financial statements and balance sheets were prepared in a consistent and standardised manner, as specified in section 32 of the Act. The aim was to enhance transparency and accountability in the financial management of the Commission. The regulations mandate the use of specific forms for profit and loss statements and balance sheets, ensuring uniformity in financial reporting. This legislative instrument underscores the importance of clear and structured financial reporting for public accountability.
Scope and Application
The Broadcasting Commission Regulations, established under the Australian Broadcasting Commission Act 1932, apply to the Australian Broadcasting Commission, governing its financial reporting obligations. These regulations mandate that the Commission must prepare its profit and loss statement and balance-sheet in accordance with the forms specified in the Schedule to these regulations. The geographic reach of these regulations is national, applying across the Commonwealth of Australia. The regulations specify detailed forms for the profit and loss statement and balance-sheet, outlining various categories of expenditure and revenue, as well as assets and liabilities, that must be reported. There are no stated exclusions or exemptions within the regulations themselves, although the application and interpretation of these financial reporting requirements may be subject to further clarification or guidance through subordinate instruments or administrative practices.
Key Provisions
The Broadcasting Commission Regulations, made under the Australian Broadcasting Commission Act 1932, detail specific requirements for the preparation and submission of financial statements by the Australian Broadcasting Commission (ABC). Regulation 2(1) specifies that the profit and loss statement and balance-sheet must be prepared according to Form A and Form B, respectively, which are provided in the Schedule to these Regulations. This ensures consistency and comparability of financial reporting by the Commission.
These Regulations impose clear obligations on the ABC. Primarily, they require the Commission to prepare detailed financial statements that include specific categories of revenue and expenditure (Regulation 2(1)). This includes revenue from licence fees, interest on investments, and other sources, as well as detailed expenses such as artist’s fees, staff salaries, and depreciation. The forms outlined in the Schedule detail these categories, ensuring transparency and accountability in the Commission's financial management. Additionally, the financial statements must be audited by an accountant or the Secretary and certified by the Chairman of the Commission, further ensuring accuracy and reliability (Regulation 2(1)).
The Regulations do not explicitly outline specific offences, penalties, or civil/criminal consequences for non-compliance. However, the requirement to adhere to the prescribed formats and the need for certified financial statements imply a level of compliance that, if not met, could potentially lead to scrutiny or other forms of oversight by the Commonwealth Government or other regulatory bodies. While the Regulations do not specify maximum penalties, the importance of accurate and certified financial reporting suggests that non-compliance could have significant repercussions for the Commission's operations and governance.