Commonwealth Numbered Acts

AUSTRALIAN POSTAL CORPORATION ACT 1989 No. 64 of 1989 - SECT 42

42. (1) The Board shall, as soon as practicable after the end of each
financial year, prepare and give to the Minister a report of Australia Post's
operations during that year, together with financial statements for the year.

(2) Before submitting financial statements to the Minister, the Board shall
submit them to the Auditor-General, who shall report to the Minister and the
Board:

   (a)  whether, in the Auditor-General's opinion, the statements are based on
        proper accounts and records;

   (b)  whether the statements are in agreement with the accounts and records
        and, in the Auditor-General's opinion, show fairly the financial
        transactions and state of affairs of Australia Post;

   (c)  whether, in the Auditor-General's opinion, the receipt, expenditure
        and investment of money, and the acquisition and disposal of assets,
        by Australia Post during the year have been in accordance with this
        Act; and

   (d)  as to any other matters arising out of the statements the
        Auditor-General considers should be reported to the Minister.

(3) The Minister shall cause a copy of the report and financial statements,
together with a copy of the report of the Auditor-General, to be laid before
each House of the Parliament within 15 sitting days of that House after their
receipt by the Minister.