Document ID: chunk:federal_register_of_legislation:C2024C00492:section:6:p107
Version: federal_register_of_legislation:C2024C00492
Segment Type: section
Provision Reference: s 6 (pt 107/175)
Character Range: 442754–445506

the purposes of subsection (1) may require an Aboriginal and Torres Strait Islander corporation, or each Aboriginal and Torres Strait Islander corporation included in a class of Aboriginal and Torres Strait Islander corporation, to prepare a report:
 (a) for a particular period or periods; or
 (b) in relation to circumstances as they exist at a particular date or dates.
This subsection does not limit subsection (1).
 (3) Regulations made for the purposes of subsection (1) may require an Aboriginal and Torres Strait Islander corporation, or each Aboriginal and Torres Strait Islander corporation included in a class of Aboriginal and Torres Strait Islander corporation, to prepare either or both of the following:
 (a) a financial report for a financial year;
 (b) a directors' report for a financial year.
This subsection does not limit subsection (1).

First financial year
 (4) Subject to subsection (4A), the first financial year for an Aboriginal and Torres Strait Islander corporation starts on the day on which it is registered and ends:
 (a) on the 30 June next following that day if the corporation is registered between 1 July and 31 December; and
 (b) on the second 30 June next following that day if the corporation is registered between 1 January and 30 June.
 (4A) However, if the corporation is registered under Part 2‑3 as a result of an application made under Division 22, the first financial year for the corporation is the period that:
 (a) starts on:
 (i) the 1 July last preceding the day on which it is registered; or
 (ii) if the corporation came into existence after that 1 July—the day on which the corporation came into existence; and
 (b) ends on the 30 June next following the day on which it is registered.

Financial year after the first
 (5) Subsequent financial years must:
 (a) start at the end of the previous financial year; and
 (b) be 12 months long.

333‑10  Contents of reports

General
 (1) A section 333‑5 report must contain the information required by the regulations.
 (2) Regulations made for the purposes of subsection (1) may impose a requirement by applying, adopting or incorporating (with or without modification) provisions of the accounting standards as in force from time to time. This subsection does not limit subsection (1).

Financial reports
 (3) If a section 333‑5 report is a financial report for a financial year, regulations made for the purposes of subsection (1) may impose one or more of the following requirements:
 (a) a requirement that the financial report is to consist of the financial statements, financial notes and declarations specified in:
 (i) the regulations; or
 (ii) the accounting standards as in force from time to time (with the modifications (if any) specified in