Tasmanian Numbered Acts

COOPERATIVES ACT 1999 (NO. 85 OF 1999) - SECT 379

379. Balance sheets

      (1) A foreign cooperative registered under this Part must, within 6 months (or such longer period as the Commissioner may allow) of the end of each of its financial years, lodge with the Commissioner –

(a) in the case of a participating cooperative, a copy of the balance sheet relating to its financial affairs as at the end of the financial year, in the form and with any accompanying documents required by the cooperatives law of the participating State concerned; and

(b) in the case of a non-participating cooperative, a copy of the balance sheet relating to its financial affairs as at the end of the financial year, in the form and with any accompanying documents required by the Commissioner.

Penalty:

Fine not exceeding 20 penalty units.

      (2) If the Commissioner is of the opinion that a balance sheet lodged with the Commissioner under this section does not sufficiently disclose the financial affairs of the foreign cooperative, the Commissioner may, by written notice, require the foreign cooperative to give the Commissioner further information or documents.

      (3) A foreign cooperative must comply with a notice given to it under subsection (2) within the period specified in the notice.

Penalty:

Fine not exceeding 60 penalty units.