sch.1A-sec.5Financial viability

### sch.1A-sec.5 Financial viability The association must be financially viable. An association seeking to become an approved security industry association must give the chief executive all of the following— if the association has been incorporated for less than 3 years— a financial statement for each year that it has been incorporated; and for each financial statement—an accountant’s written report about the accountant’s audit of the statement; if the association has been incorporated for 3 or more years— financial statements for the last 3 years that it has been incorporated; and for each financial statement—an accountant’s written report about the accountant’s audit of the statement; a written business plan that— describes how the association is to be funded; and includes details of the services the association provides to its members; and adopts a whole of business approach to planning, including, for example, components dealing with marketing and financial and risk management; a declaration of financial viability; a document signed and dated by an accountant stating— the accountant’s name and business address; and the accountant agrees with the declaration of financial viability for the association based on an examination of the financial statements, written reports about the accountant’s audit of each financial statement and business plan for the association. A declaration of financial viability must— if— the association has a management committee—be made under a decision of the management committee; or the association has a board of directors—be made under a resolution of the directors; and state the date when the declaration is made; and be signed— if the association has a management committee—by a member of the committee; or if the association has a board of directors—by a director. sch 1A pt 2 s 5 ins 2010 SL No. 346 s 6 (sch.1A-sec.5-ssec.1) The association must be financially viable. (sch.1A-sec.5-ssec.2) An association seeking to become an approved security industry association must give the chief executive all of the following— if the association has been incorporated for less than 3 years— a financial statement for each year that it has been incorporated; and for each financial statement—an accountant’s written report about the accountant’s audit of the statement; if the association has been incorporated for 3 or more years— financial statements for the last 3 years that it has been incorporated; and for each financial statement—an accountant’s written report about the accountant’s audit of the statement; a written business plan that— describes how the association is to be funded; and includes details of the services the association provides to its members; and adopts a whole of business approach to planning, including, for example, components dealing with marketing and financial and risk management; a declaration of financial viability; a document signed and dated by an accountant stating— the accountant’s name and business address; and the accountant agrees with the declaration of financial viability for the association based on an examination of the financial statements, written reports about the accountant’s audit of each financial statement and business plan for the association. (sch.1A-sec.5-ssec.3) A declaration of financial viability must— if— the association has a management committee—be made under a decision of the management committee; or the association has a board of directors—be made under a resolution of the directors; and state the date when the declaration is made; and be signed— if the association has a management committee—by a member of the committee; or if the association has a board of directors—by a director. - (a) if the association has been incorporated for less than 3 years— (i) a financial statement for each year that it has been incorporated; and (ii) for each financial statement—an accountant’s written report about the accountant’s audit of the statement; - (i) a financial statement for each year that it has been incorporated; and - (ii) for each financial statement—an accountant’s written report about the accountant’s audit of the statement; - (b) if the association has been incorporated for 3 or more years— (i) financial statements for the last 3 years that it has been incorporated; and (ii) for each financial statement—an accountant’s written report about the accountant’s audit of the statement; - (i) financial statements for the last 3 years that it has been incorporated; and - (ii) for each financial statement—an accountant’s written report about the accountant’s audit of the statement; - (c) a written business plan that— (i) describes how the association is to be funded; and (ii) includes details of the services the association provides to its members; and (iii) adopts a whole of business approach to planning, including, for example, components dealing with marketing and financial and risk management; - (i) describes how the association is to be funded; and - (ii) includes details of the services the association provides to its members; and - (iii) adopts a whole of business approach to planning, including, for example, components dealing with marketing and financial and risk management; - (d) a declaration of financial viability; - (e) a document signed and dated by an accountant stating— (i) the accountant’s name and business address; and (ii) the accountant agrees with the declaration of financial viability for the association based on an examination of the financial statements, written reports about the accountant’s audit of each financial statement and business plan for the association. - (i) the accountant’s name and business address; and - (ii) the accountant agrees with the declaration of financial viability for the association based on an examination of the financial statements, written reports about the accountant’s audit of each financial statement and business plan for the association. - (i) a financial statement for each year that it has been incorporated; and - (ii) for each financial statement—an accountant’s written report about the accountant’s audit of the statement; - (i) financial statements for the last 3 years that it has been incorporated; and - (ii) for each financial statement—an accountant’s written report about the accountant’s audit of the statement; - (i) describes how the association is to be funded; and - (ii) includes details of the services the association provides to its members; and - (iii) adopts a whole of business approach to planning, including, for example, components dealing with marketing and financial and risk management; - (i) the accountant’s name and business address; and - (ii) the accountant agrees with the declaration of financial viability for the association based on an examination of the financial statements, written reports about the accountant’s audit of each financial statement and business plan for the association. - (a) if— (i) the association has a management committee—be made under a decision of the management committee; or (ii) the association has a board of directors—be made under a resolution of the directors; and - (i) the association has a management committee—be made under a decision of the management committee; or - (ii) the association has a board of directors—be made under a resolution of the directors; and - (b) state the date when the declaration is made; and - (c) be signed— (i) if the association has a management committee—by a member of the committee; or (ii) if the association has a board of directors—by a director. - (i) if the association has a management committee—by a member of the committee; or - (ii) if the association has a board of directors—by a director. - (i) the association has a management committee—be made under a decision of the management committee; or - (ii) the association has a board of directors—be made under a resolution of the directors; and - (i) if the association has a management committee—by a member of the committee; or - (ii) if the association has a board of directors—by a director.