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Venture Capital Fund Act 2019

Accountability

39: Financial statements of VCF

You could also call this:

"The Guardians must prepare yearly financial reports for the Venture Capital Fund."

Illustration for Venture Capital Fund Act 2019

You need to know that the Guardians must prepare financial statements for the Venture Capital Fund each year. The financial statements must follow the usual accounting rules, which are defined in section 8 of the Financial Reporting Act 2013. The Guardians must make sure this happens every year.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS210826.

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Money and consumer rights > Banking and loansBusiness > Industry rules
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38: Certain Crown Entities Act 2004 provisions about directions do not apply, or

"Some rules about directions don't apply to the Venture Capital Fund Act 2019"

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40: Auditor-General is auditor of VCF, or

"The Auditor-General checks the Venture Capital Fund's money records."

39Financial statements of VCF

  1. The Guardians must ensure that financial statements for the VCF are prepared for each financial year.

  2. The annual financial statements must be prepared in accordance with generally accepted accounting practice (as defined in section 8 of the Financial Reporting Act 2013).

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