Document ID: chunk:federal_register_of_legislation:C2004A03104:schedule:2:p2
Version: federal_register_of_legislation:C2004A03104
Segment Type: schedule
Provision Reference: sch 2 (pt 2/48)
Character Range: 40123–42917

to which a certificate has been issued under sub-section 158an (1) in relation to that year".

After section 158am—
Insert the following section in Part VIIIaa:

Accounts and audit where income of organization less than specified amount
"158an. (1) If, upon the application of an organization made after the end of a financial year, the Registrar is satisfied that the income of the organization for that year did not exceed $10,000 or, in the case of a financial year that, in pursuance of sub-section 158aa (2), is a period other than 12 months, did not exceed such amount as the Registrar considers appropriate in the circumstances, the Registrar shall issue to the organization a certificate to that effect, and, where such a certificate is issued in respect of an organization in relation to a financial year—
     (a) the following provisions of this section apply in relation to the organization in relation to that financial year;
     (b) except as provided in paragraph (c), the provisions of this Part continue to apply in relation to the organization in relation to that financial year; and

SCHEDULE 1—continued

     (c) the provisions of sections 158ad and 158ag (other than sub-sections (5), (6) and (7) of section 158ag) and sub-section 158ah (1) do not apply in relation to the organization in relation to that financial year.
"(2) The provisions of this Part (other than this section) apply to the organization in relation to the financial year as if—
     (a) a reference to accounts and statements prepared or to be prepared in accordance with section 158ad were a reference to accounts and statements prepared in accordance with sub-section (3) of this section;
     (b) the reference in sub-section 158ada (3) to accounts prepared in accordance with section 158ad were a reference to accounts prepared in accordance with sub-section (3) of this section;
     (c) the reference in sub-section 158ag (5) to sub-section 158ag (4a) or (4b) were a reference to sub-section (5) of this section;
     (d) the reference in sub-section 158ag (6) to sub-section 158ag (1) were a reference to sub-section (5) of this section; and
     (e) the reference in sub-sections 158ah (2), (3) and (4) to sub-section 158ah (1) were a reference to sub-section (8) of this section.
"(3) As soon as practicable after the issue of the certificate under sub-section (1), the organization shall cause to be prepared from the accounting records kept by the organization in accordance with sub-section 158ac (1), in respect of the financial year, such accounts and other statements in respect of the financial year as are prescribed, and shall include in the accounts so prepared the relevant figures from the accounts prepared by the organization, in accordance with this sub-section or sub-section