sec.785Organisations with receipts of less than a particular amount

### sec.785 Organisations with receipts of less than a particular amount This section applies to an organisation reporting unit (an ORU ) if the registrar, on application by the ORU made after the end of a financial year, is satisfied the ORU’s receipts for the financial year were below the prescribed income threshold. The registrar must issue to the ORU a certificate to the effect that the ORU’s receipts were below the prescribed income threshold for the financial year. This division, other than sections 778 to 782 , applies to the ORU in relation to the financial year. However, in applying this division to the ORU in relation to the financial year— a reference to a general purpose financial report prepared or to be prepared under section 763 applies as if it were a reference to a general purpose financial report prepared under subsection (5) ; and the reference in section 787 (6) to a general purpose financial report prepared under section 763 applies as if it were a reference to a general purpose financial report prepared under subsection (5) . Within the period prescribed by regulation after the end of the financial year, the ORU must prepare, from its financial records for the year, a general purpose financial report as required by the reporting guidelines under section 765 (3) (b) . Maximum penalty—100 penalty units. After the making to the ORU of the auditor’s report under section 767 in relation to the auditor’s inspection and audit of the financial records kept by the ORU for the financial year, and before the end of the financial year immediately following that financial year, the ORU must present a copy of the report and copies of the general purpose financial report to which the auditor’s report relates to a meeting of its members. Maximum penalty—100 penalty units. If a member of the ORU asks the ORU to give the member a copy of the auditor’s report and the general purpose financial report, the ORU must give a copy of each of the reports to the member, free of charge, within 14 days after being asked. Maximum penalty—100 penalty units. The ORU must, within 90 days (or a longer period the registrar allows) after the making to the ORU of the report under section 767 , file— copies of the auditor’s report and the general purpose financial report; and a certificate, in the form prescribed by regulation, by a designated officer, that the information contained in the general purpose financial report is correct. Maximum penalty—100 penalty units. In this section— organisation reporting unit means a reporting unit that is all of an organisation. prescribed income threshold , for a financial year, means— for a financial year that, because of section 598 (2) , is a period other than 12 months—the amount the registrar considers appropriate in the circumstances being not more than the amount prescribed under paragraph (b) ; or for any other financial year—the amount prescribed by regulation or, if no amount is prescribed, $100,000. (sec.785-ssec.1) This section applies to an organisation reporting unit (an ORU ) if the registrar, on application by the ORU made after the end of a financial year, is satisfied the ORU’s receipts for the financial year were below the prescribed income threshold. (sec.785-ssec.2) The registrar must issue to the ORU a certificate to the effect that the ORU’s receipts were below the prescribed income threshold for the financial year. (sec.785-ssec.3) This division, other than sections 778 to 782 , applies to the ORU in relation to the financial year. (sec.785-ssec.4) However, in applying this division to the ORU in relation to the financial year— a reference to a general purpose financial report prepared or to be prepared under section 763 applies as if it were a reference to a general purpose financial report prepared under subsection (5) ; and the reference in section 787 (6) to a general purpose financial report prepared under section 763 applies as if it were a reference to a general purpose financial report prepared under subsection (5) . (sec.785-ssec.5) Within the period prescribed by regulation after the end of the financial year, the ORU must prepare, from its financial records for the year, a general purpose financial report as required by the reporting guidelines under section 765 (3) (b) . Maximum penalty—100 penalty units. (sec.785-ssec.6) After the making to the ORU of the auditor’s report under section 767 in relation to the auditor’s inspection and audit of the financial records kept by the ORU for the financial year, and before the end of the financial year immediately following that financial year, the ORU must present a copy of the report and copies of the general purpose financial report to which the auditor’s report relates to a meeting of its members. Maximum penalty—100 penalty units. (sec.785-ssec.7) If a member of the ORU asks the ORU to give the member a copy of the auditor’s report and the general purpose financial report, the ORU must give a copy of each of the reports to the member, free of charge, within 14 days after being asked. Maximum penalty—100 penalty units. (sec.785-ssec.8) The ORU must, within 90 days (or a longer period the registrar allows) after the making to the ORU of the report under section 767 , file— copies of the auditor’s report and the general purpose financial report; and a certificate, in the form prescribed by regulation, by a designated officer, that the information contained in the general purpose financial report is correct. Maximum penalty—100 penalty units. (sec.785-ssec.9) In this section— organisation reporting unit means a reporting unit that is all of an organisation. prescribed income threshold , for a financial year, means— for a financial year that, because of section 598 (2) , is a period other than 12 months—the amount the registrar considers appropriate in the circumstances being not more than the amount prescribed under paragraph (b) ; or for any other financial year—the amount prescribed by regulation or, if no amount is prescribed, $100,000. - (a) a reference to a general purpose financial report prepared or to be prepared under section 763 applies as if it were a reference to a general purpose financial report prepared under subsection (5) ; and - (b) the reference in section 787 (6) to a general purpose financial report prepared under section 763 applies as if it were a reference to a general purpose financial report prepared under subsection (5) . - (a) copies of the auditor’s report and the general purpose financial report; and - (b) a certificate, in the form prescribed by regulation, by a designated officer, that the information contained in the general purpose financial report is correct. - (a) for a financial year that, because of section 598 (2) , is a period other than 12 months—the amount the registrar considers appropriate in the circumstances being not more than the amount prescribed under paragraph (b) ; or - (b) for any other financial year—the amount prescribed by regulation or, if no amount is prescribed, $100,000.