Document ID: chunk:federal_register_of_legislation:F2024L00665:clause:1_6:p9
Version: federal_register_of_legislation:F2024L00665
Segment Type: clause
Provision Reference: sch 1 cl 6 (pt 9/11)
Character Range: 24455–27435

incurrences of liabilities that result in decreases in equity, other than those relating to distribution to equity participants.

    financial records to the extent that they relate to finances or financial administration include:

      (a)    a register;
      (b)    any other record of information;
      (c)    financial reports or financial records, however compiled, recorded or stored;
      (d)    a document (section 6 of the Act).
    financial statements comprise a statement of financial position, a statement of comprehensive income, a statement of changes in equity, a statement of cash flows and any other statement required by the Australian Accounting Standards (paragraph 253(2)(a) of the Act).

    financial support means financial resources provided to ensure that the provision of the principal activities are possible.

    financial year in relation to an organisation means the period of 12 months commencing on 1 July in any year, or another period of 12 months as is provided in the rules of the organisation (section 6 of the Act), or a different period in the special circumstances set out in section 240 of the Act.

    general administrative expenses includes expenses in respect of the office of the reporting unit, and other expenses that arise at the reporting unit level and relate to the reporting unit as a whole.

    general fund means the equity of the reporting unit other than in relation to any fund operated by the reporting unit for a specific purpose.

    general purpose financial report has the meaning set out in subsection 253(2) of the Act.

    grant or donation is taken to have the same meaning as used in section 149 or section 237 of the Act, though it is not limited by amount.

    liabilities are a present obligation of the reporting unit arising from past events, the settlement of which is expected to result in an outflow from the reporting unit of resources embodying economic benefits.

    membership subscriptions mean and/or include entrance fees or periodic subscriptions in respect of membership of the organisation.

    notes to the financial statements comprise notes required by Australian Accounting Standards and information required by the reporting guidelines (paragraph 253(2)(b) of the Act).

    organisation means an organisation registered under the Act.

    other entity includes another reporting unit, state association, a transitionally recognised association, external entity or other controlled entity of the reporting unit.

    payables are amounts owed by the reporting unit to other entities for goods or services delivered.

    prescribed designated officer for the purposes of section 268(c) of the Act means:

      (a)    the secretary; or
      (b)    an officer (i.e. within the meaning of section 9 of the Act) of the organisation (or reporting unit) other than the secretary who is authorised by the organisation or by the rules of the organisation to sign the certificate.