50BAnnual Report

#### 50B Annual Report (1) The Secretary shall as soon as practicable after the last day of June first occurring after the commencing day, prepare and give to the Minister a report on the administration and operation of this Act (including the operations of the Corporation) during the period beginning on 1 July 1988 and ending on that last day of June. (2) The report referred to in subsection (1) shall be accompanied by: (a) financial statements, in such form as the Finance Minister approves, in respect of the operations of the Corporation (other than under section 38 of this Act as in force before the commencing day) during the period beginning on 1 July 1988 and ending on the winding‑up day; and (b) financial statements, in such form as the Finance Minister approves, in respect of the operations of the Corporation under section 38 of this Act, as in force before the commencing day, and the administration of Part VI of this Act, as in force on and after that day, during the period to which the report relates. (3) The Secretary shall, as soon as practicable after each subsequent 30 June prepare and give to the Minister a report on the administration and operation of this Act during the year that ended on that day. (4) A report referred to in subsection (3) shall be accompanied by financial statements, in such form as the Finance Minister approves, relating to the administration of Part VI of this Act during the year to which the report relates. (5) Before giving financial statements to the Minister, the Secretary shall submit them to the Auditor‑General, who shall report to the Minister: (a) whether the statements are based on proper accounts and records; (b) whether the statements are in agreement with those accounts and records; and (c) as to such other matters arising out of the statements as the Auditor‑General thinks should be reported to the Minister. (6) The Minister shall cause a copy of each report and its accompanying financial statements, together with the Auditor‑General’s report on those statements, to be laid before each House of the Parliament within 15 sitting days of that House after the day on which the Minister receives the report.