Clause 21

by inserting, immediately after subsection (1), the following subsection:“(1A) The annual report of a society must be prepared in such form and manner, and contain such information, as the Registrar may require.”;

by deleting the words “shall keep proper accounts and records of its transactions and affairs and” in subsection (2);

by inserting, immediately after subsection (2), the following subsection:“(2A) The society must —

keep such accounting and other records of its transactions and affairs as will sufficiently —

explain the transactions and financial position of the society; and

enable the preparation from time to time of true and fair financial statements and any documents required to be attached to the financial statements;

cause the records to be kept in such manner as to enable them to be conveniently and properly audited; and

ensure that the financial statements give a true and fair view of the financial position and performance of the society.”;

by deleting subsection (6) and substituting the following subsection:“(6) The committee of management of a society must cause to be attached, to the audited financial statements of the society, such report (if any), in such form and manner and containing such information, as the Registrar may require.”; and

by deleting the words “financial transactions and the state of affairs” wherever they appear in subsections (7) and (8)(a) and (c) and substituting in each case the words “financial position and performance”.