Clause 4

by deleting the words “a statement of accounts” in subsection (1)(a) and substituting the words “financial statements”;

by deleting subsections (2) and (3) and substituting the following subsections:“(2) Subject to subsection (3), the governing board members of a charity must preserve any financial statement or other accounts and statements prepared by them for the purposes of regulations made under this section, for at least 5 years after the end of the financial year to which the financial statement or accounts and statements, as the case may be, relate.(3) Where a charity ceases to exist before the end of the minimum period in subsection (2) for preserving financial statements or other accounts and statements in respect of the charity —

the last governing board members of the charity; or

any one or more of the last governing board members of the charity, as may be agreed by the last governing board members,must preserve the financial statements or other accounts and statements to the end of that period, unless the Commissioner allows the financial statements or other accounts and statements, as the case may be, to be earlier destroyed or otherwise disposed of.(4) Subsection (3) also applies to a charity that ceases to exist before the date of commencement of section 4(b) of the Charities (Amendment) Act 2018, if the minimum period in subsection (2) as it applies to any financial statement or other accounts and statements of the charity has not ended on that date.”; and

by deleting the section heading and substituting the following section heading:“Financial statements”.