Document ID: chunk:federal_register_of_legislation:C2004A02018:body:0:p45
Version: federal_register_of_legislation:C2004A02018
Segment Type: other
Provision Reference: 
Character Range: 110910–113815

Act approves.
"(2) Before submitting financial statements to the appropriate Minister under sub-section (1), the authority shall submit them to the Auditor-General, who shall report to the appropriate Minister—
      (a) whether, in his opinion, the statements are based on proper accounts and records;
      (b) whether the statements are in agreement with the accounts and records;
      (c) whether, in his opinion, the receipt, expenditure and investment of moneys, and the acquisition and disposal of assets, by the authority during the year have been in accordance with the enactment establishing the authority; and
      (d) as to such other matters arising out of the statements as the Auditor-General considers should be reported to the appropriate Minister.
"(3) The appropriate Minister shall cause copies of the report and financial statements together with a copy of the report of the Auditor-General to be laid before each House of the Parliament within 15 sitting days of that House after their receipt by the appropriate Minister.

"Division 4—Miscellaneous

Definitions
"63n. (1) In this Division–
      'accounts and records of a body' mean, in the case of the trustee or trustees of a trust, the accounts and records of the trustee or trustees relating to the trust;
      'body' includes—
          (a) an incorporated company—
              (i) in which the Commonwealth has an interest; or
              (ii) in which a body corporate incorporated for a public purpose by an enactment has an interest;
          (b) an incorporated company that is related to a company referred to in paragraph (a);
          (c) an international organization of which Australia is a member; and
          (d) the trustee or trustees of a trust.
"(2) For the purposes of this Division—
      (a) the Commonwealth shall be deemed to have an interest in an incorporated company—
          (i) if any stock or shares in the capital of the company is or are beneficially owned by the Commonwealth; or
          (ii) in the case of a company limited by guarantee—if the Commonwealth, or a nominee for the Commonwealth, is a member of the company; and
      (b) a body corporate referred to in sub-paragraph (a) (ii) of the definition of 'body' in sub-section (1) shall be taken to have an interest in an incorporated company—
          (i) if any stock or shares in the capital of the company is or are beneficially owned by that body corporate; or
          (ii) in the case of a company limited by guarantee—if that body corporate, or a nominee for that body corporate, is a member of the company.
"(3) Where an incorporated company—
      (a) is the holding company of another incorporated company;
      (b) is a subsidiary of another incorporated company; or

      (c) is a subsidiary of the holding company of another incorporated company,
the first-mentioned incorporated company and that other