148Returns

148 Returns

148 Returns

(1) A society must lodge returns with the Registrar in accordance with the regulations.

Maximum penalty—20 penalty units.

(2) The Registrar may, by written notice, require a society to lodge such further returns as the Registrar requires.

(3) A further return must contain the information required by the notice and must be lodged as often as is required by the notice.

(4) Without limiting the effect of this section, the information that may be required in a further return may comprise or include information relating to—

(a) an entity controlled by the society, and

(b) a body corporate or other entity formed or acquired outside Australia by an entity controlled by the society, and

(c) a body corporate or other entity (whether within or outside Australia) with which—

(i) the society, or

(ii) an entity controlled by the society, or

(iii) a body corporate or other entity mentioned in paragraph (b),

has invested funds.

(5) The Registrar may, by written notice, require a society to lodge with a return or further return a report by a registered company auditor, or other person of a specified class, on specified matters to which the return relates.

(6) A society that fails to comply with a requirement of a notice given to it under this section commits an offence.

Maximum penalty—20 penalty units.