Commonwealth Numbered Acts

MOOMBA-SYDNEY PIPELINE SYSTEM SALE ACT 1994 No. 70, 1994 - SECT 133

133. (1) This section applies if a Moomba operator enters into a transaction
during a financial year that is not an arm's length transaction.

(2) The Moomba operator must give the PSA a report prepared under this section
within the time prescribed by the regulations. Penalty: 60 penalty units.

(3) The report must set out the information shown in the Moomba operator's
financial statements and reports for the financial year, changed as set out in
subsection (4).

(4) The information included in the report must be changed so that the amount
of a transaction that was not at arm's length is shown as the amount that
would have been the amount of the transaction if the parties to the
transaction had been dealing with each other at arm's length.

(5) The report is to identify the changes made because of subsection (4).

(6) In this section:

"financial statements and reports" means the financial statements and reports
that are required to be laid before the annual general meeting of a company
because of section 316 of the Corporations Law.