Document ID: chunk:federal_register_of_legislation:F2024C01220:reg:32
Version: federal_register_of_legislation:F2024C01220
Segment Type: reg
Provision Reference: reg 32
Character Range: 35509–37116

32  What is an approved provider's financial year
 (1) A financial year for an approved provider is:
 (a) a period of 12 months beginning on 1 July; or
 (b) if, under subsection (3), the Secretary determines another period of 12 months (being a period that begins on the first day of a month)—that other period.
 (2) An approved provider may apply to the Secretary to determine a period of 12 months, other than the period starting on 1 July, to be the approved provider's financial year.
 (3) If the Secretary receives an application from an approved provider for a determination under subsection (2), the Secretary must:
 (a) make, or refuse to make, the determination; and
 (b) notify the approved provider, in writing, of the Secretary's decision:
 (i) within 28 days; or
 (ii) if the Secretary has requested further information in relation to the application—within 28 days, excluding the period within which the information is requested and received.
Note: A decision to refuse to make a determination is a reviewable decision under section 33.
 (4) The Secretary may determine another period to be the approved provider's financial year under subsection (3) only if the Secretary is satisfied, on reasonable grounds, that it would be impracticable for the approved provider to comply with the requirements of Division 2 in relation to a period of 12 months starting on 1 July.
 (5) If the Secretary's decision is to refuse to make a determination for the approved provider under subsection (3), the Secretary must also give the approved provider a written statement of the reasons for the decision.