152AApplication

152A Application

152A Application

(1) Financial statements and reports under this Division of the New South Wales Aboriginal Land Council and its controlled entities may be consolidated in a way that conforms with the Australian Accounting Standards concerning the preparation and presentation of financial statements and reports by similar entities.

(2) An entity is a controlled entity of the New South Wales Aboriginal Land Council if the entity is controlled by the Council, with control being determined in accordance with—

(a) section 50AA of the Corporations Act 2001 of the Commonwealth, or

(b) the Australian Accounting Standards.

(3) A Local Aboriginal Land Council is not a controlled entity of the New South Wales Aboriginal Land Council.

s 152A: Ins 2022 No 68, Sch 4.1[21].