[BIL141-B.HAL]

House of Assembly—No. 139

[As laid on the table and read a first time, 14 May 2003]

South Australia

[Prepared by the Parliamentary Counsel on the instructions of the Hon. M. Brindal, M.P.]

VALUATION OF LAND (ACCESS TO FINANCIAL STATEMENTS) AMENDMENT BILL 2003

A Bill For

An Act to amend the Valuation of Land Act 1971.

[OPC-HA]

Contents

Part 1—Preliminary

1.Short title

2.Amendment provisions

Part 2—Amendment of Valuation of Land Act 1971

3.Insertion of section 30

30.Financial statements need to be provided

The Parliament of South Australia enacts as follows:

Part 1—Preliminary

Short title

1. This Act may be cited as the Valuation of Land (Access to Financial Statements) Amendment Act 2003.

Amendment provisions

2. In this Act, a provision under a heading referring to the amendment of a specified Act amends the Act so specified.

Part 2—Amendment of Valuation of Land Act 1971

Insertion of section 30

3. After section 29 insert:

Financial statements need to be provided

30. (1) The Valuer-General, or a person authorised by the Valuer-General, cannot, in the exercise of powers under this Part, required a person to provide to the Valuer‑General, or any other person, any—

(a)financial statement; or

(b)information that would normally constitute (or substantially constitute) a financial statement if presented in a particular way.

(2) In this section—

"financial statement" means—

(a)a profit and loss statement; or

(b)a statement of cash flows.