Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The General Manager may, by written notice, determine that particular Australian Accounting Standards do not apply in relation to an organisation or to a class of organisations.
(2) In deciding whether to determine that a particular Australian Accounting Standard does not apply in relation to an organisation or organisations, the General Manager is to have regard to the cost to the organisation or organisations of complying with the standard and the information needs of the members of the organisation or organisations.