Clause 34

A society shall, as soon as practicable but not later than six months after the close of each financial year, submit to the Registrar an annual report on its activities during the year together with two certified true copies of the audited financial statements of the society and the audit report for that year.

The society shall keep proper accounts and records of its transactions and affairs and shall do all things necessary to ensure that all payments out of its moneys are correctly made and properly authorised and that adequate control is maintained over the assets of, or in custody of, the society and over the expenditure incurred by the society.

The society shall, as soon as practicable but not later than six months after the close of the financial year, prepare and submit the financial statements in respect of that year to the auditor who shall audit and report on them.