Corporations Regulations 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
PART 7.8
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OTHER PROVISIONS RELATING TO CONDUCT ETC CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE
Division 6
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Financial records, statements and audit
Subdivision C
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Financial statements of financial services licensees
REGULATION 7.8.14
7.8.14
CONTENTS OF ANNUAL PROFIT AND LOSS STATEMENT AND BALANCE SHEET AND APPLICABLE ACCOUNTING PROCEDURES
For paragraph 989C (a) of the Act, a true and fair profit and loss statement and balance sheet in respect of a financial year must contain a declaration by the financial services licensee that:
(a) the profit and loss statement and balance sheet give a true and fair view of the matters stated in it; and
(b) if the licensee is required to lodge an auditor ' s report under subparagraph 989B(3)(b)(ii) or paragraph 989B(3)(c) of the Act - the auditor ' s report lodged with the profit and loss statement and balance sheet is a true copy of the report on the profit and loss statement and balance sheet of the financial services licensee; and
(c) if the licensee is required to lodge a compliance certificate under paragraph 989B(3)(a) or subparagraph 989B(3)(b)(i) of the Act - the information in the compliance certificate lodged with the profit and loss statement and balance sheet is complete and accurate.
View history note
Hide history note[ CCH Note: Pursuant to the Corporations Amendment Regulations 2001 (No 4) (SR 2001 No 319) effective 11 March 2002, Chapter 7 (Securities) comprising reg 7.1.01 - 7.15.01 and Chapter 8 (The futures industry) comprising reg 8.1.01 - 8.7.03 are replaced by a new Chapter 7 (Financial services and markets) comprising reg 7.1.01 - 7.12.01. As the subject matter of the new Chapter 7 relates to the new financial services reform regime, " inserted " has been used in the history notes for each provision, and all references to the former provisions have been removed.]
For paragraph 989C (a) of the Act, a true and fair profit and loss statement and balance sheet in respect of a financial year must contain a declaration by the financial services licensee that:
(a) the profit and loss statement and balance sheet give a true and fair view of the matters stated in it; and
(b) if the licensee is required to lodge an auditor ' s report under subparagraph 989B(3)(b)(ii) or paragraph 989B(3)(c) of the Act - the auditor ' s report lodged with the profit and loss statement and balance sheet is a true copy of the report on the profit and loss statement and balance sheet of the financial services licensee; and
(c) if the licensee is required to lodge a compliance certificate under paragraph 989B(3)(a) or subparagraph 989B(3)(b)(i) of the Act - the information in the compliance certificate lodged with the profit and loss statement and balance sheet is complete and accurate.
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