Document ID: chunk:federal_register_of_legislation:C2007C00134:clause:2_35
Version: federal_register_of_legislation:C2007C00134
Segment Type: clause
Provision Reference: sch 2 cl 35
Character Range: 216328–216891

35  Financial years start on 1 July

 (1) For the purposes of the Commonwealth Authorities and Companies Act 1997, the financial year for the trustees of each fund is, subject to subsection (2), a period of 12 months starting on 1 July.

 (2) The first annual report required to be prepared under the Commonwealth Authorities and Companies Act 1997 by the trustees of each fund is to relate to the period of 18 months starting on the last 1 January before the commencement of this section.

Note: Previously, funds had financial years that ended on 31 December.