Page 156 - Week 01 - Tuesday, 12 February 1991

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CHIEF MINISTER FOR THE AUSTRALIAN CAPITAL TERRITORY

LEGISLATIVE ASSEMBLY QUESTION

Question No 314

Building Societies and Credit Unions - Returns

MS FOLLETT - Asked the Treasurer upon notice on 13 December 1990:

(1) At what regular intervals are returns of financial information and operating performance required to be provided to the Registrar of Co-operative Societies by (a) Building Societies; and (b) Credit Unions.

(2) What information must be disclosed in those returns.

MR KAINE - The answer to the members question is as follows:

(1) Building societies and credit unions lodge monthly financial returns with the Registrar. These returns are not audited and are supplied in commercial confidence. The Co-operative Societies Act 1939 provides that audited annual returns are to be lodged with the Registrar within three months. of the end of each financial year unless an extension has been-grunted by the Registrar.

(2) The returns must include profit and loss account and balance

sheet. Building society returns also include calculations for

capital adequacy and lending ratios.

156

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