4. Record Keeping and Commerce
Unlike other states, there is no requirement under the Western Australian Act that associations submit annual returns to Consumer Protection. It is important, however, that associations maintain adequate records of their operations, particularly financial records, as in certain circumstances the Commissioner can direct that association records be provided to Consumer Protection or that the association undergoes a financial audit. Failure to comply with Consumer Protection directions may be a criminal offence.
Under the proposed Act, associations would be required to lodge an annual return with Consumer Protection. The return is not envisaged to be complex or intrusive; it will probably require only information such as a contact address for the association, the date of the last AGM and confirmation that financial statements were presented to members.