270 Accounts of bodies assisting Lotteries Commission and audit of accounts

(1)

A person, body corporate, or department that has entered into an arrangement, agreement, or contract under section 17 of the Crown Entities Act 2004 to do anything as agent for the Lotteries Commission, or otherwise act on behalf of the Commission, in the promotion, organisation, or conduct of any New Zealand lottery must—

(a)

keep full and true accounts of everything done by him, her, or it relating to the lottery in a manner and form approved by the Commission; and

(b)

as soon as practicable after the end of each financial year, or (if earlier) after the termination of the arrangement, agreement, or contract,—

(i)

prepare a statement of account of his, her, or its activities on behalf of the Commission during the year or other relevant period; and

(ii)

on receipt of a written request from the Commission, submit the statement to the Commission.

(2)

Every statement proposed under subsection (1) must be audited by the Auditor-General, who, for that purpose, has and may exercise all his or her powers under the Public Audit Act 2001.

(3)

For the purposes of this section, financial year means the period commencing with 1 July in each year and ending with 30 June in the following year.

Compare: 1977 No 84 s 89

Section 270(1): amended, on 25 January 2005, by section 200 of the Crown Entities Act 2004 (2004 No 115).