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Gambling Act 2003

Gambling - Licensing of class 4 gambling - Net proceeds and costs of class 4 gambling

107: Corporate society must provide annual report to Secretary

You could also call this:

"Corporate societies doing certain types of gambling must give the Secretary a yearly report on their finances."

If you are part of a corporate society that does class 4 gambling, you must give the Secretary an annual report. You have to do this within three months of the end of your financial year. The report must include certain information, which is described in section 108, and an auditor's report on that information.

You need to get an auditor to check the information in your report. An auditor is a special person who checks financial information. If you are a public entity, the Auditor-General is your auditor. Otherwise, your auditor must be a qualified auditor under the Financial Reporting Act 2013.

You have to do this every year, starting from the financial year that begins after this law starts. This is in addition to any other reporting you have to do under this law or any other law. The Secretary can also ask for other financial information from you, and this law does not limit their power to do so, as stated in section 108A and the Public Audit Act 2001.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM208669.

Topics:
Money and consumer rights > GamblingBusiness > Industry rules
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106: Corporate society must apply or distribute net proceeds from class 4 gambling to or for authorised purpose, or

"Corporate societies must use class 4 gambling profits for approved purposes."

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108: Contents of annual report, or

"What's in a yearly report about class 4 gambling"

Part 2Gambling
Licensing of class 4 gambling: Net proceeds and costs of class 4 gambling

107Corporate society must provide annual report to Secretary

  1. A corporate society must, not later than 3 months after the end of its financial year, provide to the Secretary an annual report on the conduct of class 4 gambling by the corporate society during the financial year.

  2. The annual report must include—

  3. the information described in section 108; and
    1. an auditor’s report on the information contained in the report.

      1. The first financial year for which a corporate society must provide an annual report is the financial year that commences after the commencement of this section.

      2. The requirements of this section are in addition to any other reporting requirements imposed on the corporate society in or under this Act or any other enactment.

      3. This section does not limit the Secretary’s power to require other financial information in accordance with this Act.

      4. In this section and section 108A, auditor means,—

      5. in the case of a public entity under the Public Audit Act 2001, the Auditor-General; or
        1. in any other case, a person who is a qualified auditor within the meaning of section 35 of the Financial Reporting Act 2013.

          Notes
          • Section 107(6): replaced, on , by section 89 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).