8CExtension of time for preparing financial statements

8C Extension of time for preparing financial statements

[Section 8C Inserted by No. 17 of 2000, s. 7, Applied:01 Jul 2000]

(1)  Within 45 days after the end of the financial year, the Authority may apply to the Treasurer for an extension of the period within which it must prepare and provide the financial statements of the Authority.

(2)  An application is to –

(a) include detailed reasons for requiring the extension; and

(b) specify the day by which the Authority estimates that it can provide the financial statements.

(3)  The Treasurer may –

(a) refuse to grant the application; or

(b) grant the application and extend the period as the Treasurer considers appropriate.

(4)  The Treasurer is not to grant an extension that would prevent the Minister from tabling an annual report in accordance with section 8F(1) .

(5)  Within 7 days after being notified of an extension, the Authority is to notify the Minister of the details of the extension.