108 Contents of annual report

(1)

An annual report must include—

(a)

an itemised statement of the application or distribution of net proceeds from class 4 gambling to or for authorised purposes; and

(b)

financial statements prepared in accordance with generally accepted accounting practice.

(1A)

The financial statements included in the annual report must comply with regulations made under section 371(1)(dc).

(2)

In this section,—

financial statements has the same meaning as in section 6 of the Financial Reporting Act 2013

generally accepted accounting practice has the same meaning as in section 8 of the Financial Reporting Act 2013.

Section 108: replaced, on 1 April 2014, by section 90 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).

Section 108(1)(a): amended, on 3 March 2015, by section 64 of the Gambling Amendment Act 2015 (2015 No 3).

Section 108(1A): inserted, on 3 October 2016, by section 21 of the Gambling Amendment Act (No 2) 2015 (2015 No 90).