Associations Incorporation (Amendment) Regulations 2004
S.R. No. 39/2004
table of provisions
RegulationPage
RegulationPage
1.Objective
2.Authorising provision
3.Principal Regulations
4.New regulation 7 substituted
7.Preparation of financial reports by prescribed associations
5.New Schedule 1 substituted
SCHEDULE 1—Preparation of Financial Statements by Prescribed Associations
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ENDNOTES
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S.R. No. 39/2004
Associations Incorporation (Amendment) Regulations 2004
statutory rules 2004
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Associations Incorporation (Amendment) Regulations 2004
Associations Incorporation Act 1981
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Associations Incorporation (Amendment) Regulations 2004
Associations Incorporation (Amendment) Regulations 2004
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S.R. No. 39/2004
Associations Incorporation (Amendment) Regulations 2004
The Governor in Council makes the following Regulations:
Dated: 18 May 2004
Responsible Minister:
JOHN LENDERS
Minister for Consumer Affairs
STEPHANIE LENN
Acting Clerk of the Executive Council
1.Objective
The objective of these Regulations is to amend the Associations Incorporation Regulations 1998 to update references to accounting standards for the preparation of financial statements by prescribed associations.
2.Authorising provision
These Regulations are made under section 54 of the Associations Incorporation Act 1981.
3.Principal Regulations
In these Regulations, the Associations Incorporation Regulations 1998[1] are called the Principal Regulations.
4.New regulation 7 substituted
r. 4
For regulation 7 of the Principal Regulations, substitute—
"7.Preparation of financial reports by prescribed associations
A prescribed association must prepare its financial statements in accordance with—
(a)the Australian Accounting Standards specified in Part 1 of Schedule 1 which have been issued by the Australian Accounting Research Foundation on behalf of The Institute of Chartered Accountants in Australia and CPA Australia; and
(b)the Accounting Standards specified in Part 2 of Schedule 1 which have been issued by the Australian Accounting Standards Board.".
5.New Schedule 1 substituted
For Schedule 1 to the Principal Regulations substitute—
"SCHEDULE 1
Preparation of Financial Statements by Prescribed Associations
PART 1—AUSTRALIAN ACCOUNTING STANDARDS
Item / Australian Accounting Standard Number / Name of Australian Accounting Standard /Issued
1 / AAS 4 / Depreciation / August 1997
2 / AAS 5 / Materiality / September 1995
Item / Australian Accounting Standard Number / Name of Australian Accounting Standard /
Issued
3 / AAS 6 / Accounting Policies / March 1999
4 / AAS 8 / Events Occurring After Reporting Date / October 1997
5 / AAS 15 / Revenue / June 1998
6 / AAS 17 / Leases / October 1998
7 / AAS 28 / Statement of Cash Flows / October 1997
8 / AAS 36 / Statement of Financial Position / October 1999
PART 2—ACCOUNTING STANDARDS
Item / Accounting Standard Number / Name of Accounting Standard /Issued
1 / AASB 1018 / Statement of Financial Performance / June 2002
2 / AASB 1041 / Revaluation of Non-Current Assets / July 2001
".
r. 5
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Associations Incorporation (Amendment) Regulations 2004
ENDNOTES
Endnotes
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[1] Reg. 3: S.R. No. 103/1998 as amended by S.R. Nos 62/2001, 69/2001, 93/2003 and 128/2003.
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Table of Applied, Adopted or Incorporated Matter Required by Subordinate Legislation Regulations 1994
Note that the following table of applied, adopted or incorporated matter is included in accordance with the requirements of regulation 6 of the Subordinate Legislation Regulations 1994.
Statutory Rule provision / Title of applied, adopted or incorporated document / Matter in applied, adopted or incorporated documentRegulation 4 which substitutes Regulation 7 and Regulation5 which substitutes Schedule 1 to the Associations Incorporation Regulations 1998 / Australian Accounting Standard AAS 4—Depreciation—issued by the Australian Accounting Research Foundation in August 1997. / The whole
Australian Accounting Standard AAS 5—Materiality—issued by the Australian Accounting Research Foundation in September 1995. / The whole
Australian Accounting Standard AAS 6—Accounting Policies—issued by the Australian Accounting Research Foundation in March 1999. / The whole
Statutory Rule provision / Title of applied, adopted or incorporated document / Matter in applied, adopted or incorporated document
Australian Accounting Standard AAS 8—Events Occurring After Reporting Date—issued by the Australian Accounting Research Foundation in October 1997. / The whole
Australian Accounting Standard AAS 15—Revenue—issued by the Australian Accounting Research Foundation in June 1998. / The whole
Australian Accounting Standard AAS 17—Leases—issued by the Australian Accounting Research Foundation in October 1998. / The whole
Australian Accounting Standard AAS 28—Statement of Cash Flows—issued by the Australian Accounting Research Foundation in October 1997. / The whole
Australian Accounting Standard AAS 36—Statement of Financial Position—issued by the Australian Accounting Research Foundation in October 1999. / The whole
Accounting Standard AASB 1018—Statement of Financial Performance—issued by the Australian Accounting Standards Board in June 2002. / The whole
Statutory Rule provision / Title of applied, adopted or incorporated document / Matter in applied, adopted or incorporated document
Accounting Standard AASB 1041—Revaluation of Non-Current Assets—issued by the Australian Accounting Standards Board in July 2001. / The whole