125Financial year of association

#### 125 Financial year of association 125 Financial year of association > > (1) The financial year of an association is to be the same as that of its component societies. > > > (2) If the financial years of its component societies are not the same, the Registrar may (for the purpose of ensuring that their financial years are the same) give a direction in writing to any of the societies requiring them to change their financial years in accordance with the direction. > > > (3) A society must comply with a direction given to the society under this section. > > > > Maximum penalty—20 penalty units.