Commonwealth Consolidated Acts

BROADCASTING SERVICES ACT 1992 - SECT 205B

             (1)  A commercial television broadcasting licensee or a commercial radio broadcasting licensee must:

                     (a)  keep and maintain, in a recognised business or commercial form, financial accounts in relation to the service or services provided under the licence; and

                     (b)  make those accounts available for inspection by the ACMA or an authorised officer when requested to do so; and

                     (c)  within 6 months after 30 June in each year, give the ACMA:

                              (i)  an audited balance-sheet and an audited profit and loss account, in a form approved by the ACMA, in relation to the service or services provided under the licence for the year ending on that 30 June; and

                             (ii)  a statutory declaration stating the gross earnings in relation to the licence during that year; and

                     (d)  keep such records in respect of the service or services provided under the licence as the ACMA directs and give copies of those records to the ACMA when requested to do so.

             (2)  A licensee may, with the permission of the ACMA, adopt an accounting period which is a period of 12 months ending on a day other than 30 June.

             (3)  If a licensee adopts such an accounting period, paragraph (1)(c) has effect as if:

                     (a)  the reference in that paragraph to 6 months after 30 June were a reference to:

                              (i)  if 6 months after the end of the accounting period does not include 31 December--6 months after the end of the accounting period; or

                             (ii)  if 6 months after the end of the accounting period includes 31 December--the period starting immediately after the end of the accounting period and ending on that 31 December; and

                     (b)  a reference in that paragraph to the year ending on 30 June were a reference to the year ending on the last day of that accounting period.

             (4)  The declaration referred to in subparagraph (1)(c)(ii) must be made by the chief executive officer or secretary of the licensee.

             (5)  In this section:

"authorised officer" means a member, or a member of the staff of the ACMA, authorised by the ACMA in writing for the purposes of this section.

Note:          For enforcement of this section, see Division 3 of Part 10 of this Act and paragraphs 7(1)(ia) and 8(1)(ha) of Schedule 2.