sec.757Certificate about reporting units—registrar initiative

### sec.757 Certificate about reporting units—registrar initiative The registrar may only issue a certificate under section 755 on the registrar’s own initiative if the registrar— is satisfied that, to improve compliance with the accounting, auditing and reporting requirements of this division, it is most appropriate for the organisation to be divided into reporting units on the basis set out in the certificate; and is satisfied the level of financial information that would be available to members under the proposed division into reporting units would be adequate and would be relevant to the members; and has complied with the procedure prescribed by regulation. Subsection (3) applies if, in the registrar’s opinion, the rules of an organisation need to be changed to give effect to the establishment of the proposed reporting units under subsection (1) . The registrar may, by instrument, decide the changes to the rules that are, in the registrar’s opinion, necessary to give effect to the establishment of the proposed reporting units. However, before deciding to change the rules the registrar must give the organisation an opportunity, as prescribed by regulation, to be heard on the matter. (sec.757-ssec.1) The registrar may only issue a certificate under section 755 on the registrar’s own initiative if the registrar— is satisfied that, to improve compliance with the accounting, auditing and reporting requirements of this division, it is most appropriate for the organisation to be divided into reporting units on the basis set out in the certificate; and is satisfied the level of financial information that would be available to members under the proposed division into reporting units would be adequate and would be relevant to the members; and has complied with the procedure prescribed by regulation. (sec.757-ssec.2) Subsection (3) applies if, in the registrar’s opinion, the rules of an organisation need to be changed to give effect to the establishment of the proposed reporting units under subsection (1) . (sec.757-ssec.3) The registrar may, by instrument, decide the changes to the rules that are, in the registrar’s opinion, necessary to give effect to the establishment of the proposed reporting units. (sec.757-ssec.4) However, before deciding to change the rules the registrar must give the organisation an opportunity, as prescribed by regulation, to be heard on the matter. - (a) is satisfied that, to improve compliance with the accounting, auditing and reporting requirements of this division, it is most appropriate for the organisation to be divided into reporting units on the basis set out in the certificate; and - (b) is satisfied the level of financial information that would be available to members under the proposed division into reporting units would be adequate and would be relevant to the members; and - (c) has complied with the procedure prescribed by regulation.