Document ID: chunk:federal_register_of_legislation:C2024C00492:section:6:p127
Version: federal_register_of_legislation:C2024C00492
Segment Type: section
Provision Reference: s 6 (pt 127/175)
Character Range: 492775–495535

units or imprisonment for 6 months, or both.
 (2) An offence based on subsection (1) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.

345‑5  Auditor's power to obtain information from controlled entity
 (1) An auditor who audits a consolidated financial report:
 (a) has a right of access at all reasonable times to the books of any controlled entity; and
 (b) may require any officer of the entity to give the auditor information, explanations or other assistance for the purposes of the audit.
A request under paragraph (b) must be a reasonable one.
 (2) The information, explanations or other assistance required under paragraph (1)(b) is to be given at the expense of the Aboriginal and Torres Strait Islander corporation whose financial report is being audited.

345‑10  Controlled entity to assist auditor
 (1) If an Aboriginal and Torres Strait Islander corporation has to prepare a consolidated financial report, an officer or auditor of a controlled entity must:
 (a) allow the auditor for the corporation access to the controlled entity's books; and
 (b) give the auditor any information, explanation or assistance required under section 345‑5.
Penalty: 25 penalty units or imprisonment for 6 months, or both.
 (2) An offence based on subsection (1) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.

345‑15  Application of sections 345‑1 to 345‑10 to entity that has ceased to be controlled
  Sections 345‑1, 345‑5 and 345‑10 apply to the preparation or audit of a financial report that covers a controlled entity even if the entity is no longer controlled by the Aboriginal and Torres Strait Islander corporation whose financial report is being prepared or audited.

Division 348—Lodging reports

348‑1  Lodging annual reports with the Registrar
 (1) An Aboriginal and Torres Strait Islander corporation that has to prepare or obtain a report under this Part (other than a general report) must lodge the report with the Registrar.
Penalty: 25 penalty units or imprisonment for 6 months, or both.
Note: A secretary of an Aboriginal and Torres Strait Islander corporation may be liable for a civil penalty for a contravention of this section. See sections 265‑40 and 386‑10.
 (2) An offence against subsection (1) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.
 (3) The time for lodgment is:
 (a) within 3 months after the end of the financial year if the report is:
 (i) a financial report for a financial year; or
 (ii) a directors' report for a financial year; or
 (iii) an auditor's report on a financial report for a financial year; or
 (b) the time provided for by:
 (i) the regulations