397NFirst financial reports and other financial matters

#### 397N First financial reports and other financial matters 397N First financial reports and other financial matters > > (1) This section applies to a joint organisation if it is established after 1 July in a year. > > > (2) The first financial reports required to be prepared under Part 3 of Chapter 13 of the Act for a joint organisation are to be prepared for the period commencing on the constitution of the joint organisation and ending on the last day of the year after the year in which the joint organisation is established. > > > (3) For the purposes of section 400ZH(5)(a) of the Act, section 413(1) of the Act applies to a joint organisation with the modifications set out in subsection (2). > > > (4) For the purposes of section 400ZH(5)(b) of the Act, the following provisions of the Act do not apply to or in respect of a joint organisation— > > > > > (a) Division 2 of Part 10 of Chapter 15, > > > > > (b) Division 5 of Part 2 of Chapter 17.