sec.125Licensed club to give audited accounts to control body

### sec.125 Licensed club to give audited accounts to control body Within 3 months after the end of each financial year, the responsible entity for a licensed club for the financial year must give the club statements for the financial year, that have been signed by the club’s auditors, to the control body for the code of racing in relation to which the club was licensed. The statements must be in the control body form. If the club was a non-proprietary club during the financial year, the control body form must provide for statements about the following— the club’s income and expenditure, on an accrual basis; particulars of each amount paid by the club for a charitable, benevolent, patriotic or special purpose approved by the control body; particulars of other payments or expenditure made by the club of the type mentioned in section 128 (3) ; its assets and liabilities as at the end of the financial year. If the club was other than a non-proprietary club during the financial year, the control body form must provide for statements about the following— the club’s income and expenditure, on an accrual basis; its assets and liabilities as at the end of the financial year. In this section— responsible entity , for a licensed club for a financial year, means— if the corporation that was a licensed club during the financial year continues to be a licensed club—the licensed club; or if the corporation that was a licensed club during the financial year is no longer licensed as a licensed club but the corporation continues to exist—the corporation; or if the corporation that was a licensed club during the financial year is no longer licensed as a licensed club and the corporation no longer exists—each of the persons who was an executive officer of the corporation immediately before the licence ended. s 125 prev s 125 om 2016 No. 12 s 363 pres s 125 amd 2016 No. 12 s 356 (sec.125-ssec.1) Within 3 months after the end of each financial year, the responsible entity for a licensed club for the financial year must give the club statements for the financial year, that have been signed by the club’s auditors, to the control body for the code of racing in relation to which the club was licensed. (sec.125-ssec.2) The statements must be in the control body form. (sec.125-ssec.3) If the club was a non-proprietary club during the financial year, the control body form must provide for statements about the following— the club’s income and expenditure, on an accrual basis; particulars of each amount paid by the club for a charitable, benevolent, patriotic or special purpose approved by the control body; particulars of other payments or expenditure made by the club of the type mentioned in section 128 (3) ; its assets and liabilities as at the end of the financial year. (sec.125-ssec.4) If the club was other than a non-proprietary club during the financial year, the control body form must provide for statements about the following— the club’s income and expenditure, on an accrual basis; its assets and liabilities as at the end of the financial year. (sec.125-ssec.5) In this section— responsible entity , for a licensed club for a financial year, means— if the corporation that was a licensed club during the financial year continues to be a licensed club—the licensed club; or if the corporation that was a licensed club during the financial year is no longer licensed as a licensed club but the corporation continues to exist—the corporation; or if the corporation that was a licensed club during the financial year is no longer licensed as a licensed club and the corporation no longer exists—each of the persons who was an executive officer of the corporation immediately before the licence ended. - (a) the club’s income and expenditure, on an accrual basis; - (b) particulars of each amount paid by the club for a charitable, benevolent, patriotic or special purpose approved by the control body; - (c) particulars of other payments or expenditure made by the club of the type mentioned in section 128 (3) ; - (d) its assets and liabilities as at the end of the financial year. - (a) the club’s income and expenditure, on an accrual basis; - (b) its assets and liabilities as at the end of the financial year. - (a) if the corporation that was a licensed club during the financial year continues to be a licensed club—the licensed club; or - (b) if the corporation that was a licensed club during the financial year is no longer licensed as a licensed club but the corporation continues to exist—the corporation; or - (c) if the corporation that was a licensed club during the financial year is no longer licensed as a licensed club and the corporation no longer exists—each of the persons who was an executive officer of the corporation immediately before the licence ended.