Owners Corporations Act 2006
34Financial statements
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34 Financial statements
(1) An owners corporation that is a tier one owners corporation, a tier two owners corporation or a tier three owners corporation must prepare annual financial statements for presentation at the general meeting of the owners corporation in accordance with the Australian Accounting Standards.
(2) A tier four owners corporation must prepare annual financial statements for any financial year in which it levies annual fees.
(3) In this section, Australian Accounting Standards has the same meaning as in the Associations Incorporation Reform Act 2012.
Annual financial statements prepared under this section may be either General Purpose Financial Reports or Special Purpose Financial Reports as defined by the Australian Accounting Standards Board.
S. 35 amended by Nos 2/2008 s. 13, 36/2011 s. 6, substituted by No. 4/2021 s. 18.