CCH Note:
Part 13 of the
Corporations Act 1989, inserted
by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as
follows:
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW
82
The Corporations Law is as follows:...
CHAPTER 8 - THE FUTURES INDUSTRY
PART 8.6 - FIDELITY FUNDS
SECTION 1232
ACCOUNTS OF FUND
1232(1)
[Accounts to be kept]
A futures organisation shall establish and keep proper accounts of its fidelity fund and shall, within the period of 3 months that next succeeds the end of its financial year, cause a balance-sheet in respect of those accounts to be made out as at the end of that financial year.
1232(2)
[Auditor to be appointed]
A futures organisation shall appoint a registered company auditor to audit the accounts of the fidelity fund.
1232(3)
[Duties of auditor]
The auditor appointed by a futures organisation shall audit the accounts of the fidelity fund and shall audit each balance-sheet and cause a report on the accounts and balance-sheet to be laid before the board of the futures organisation not later than 1 month after the balance-sheet is made out.
1232(4)
[Report and balance-sheet to Commission]
A futures organisation shall give to the Commission a copy of each report laid before the board of the futures organisation under this section and of the balance-sheet to which the report relates within 14 days after the report was so laid before the board.