Broadcasting Services (Licensee Audit Exemption) Instrument 2014
Broadcasting Services Act 1992
The AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY makes this Instrument under subsection 205B(4A) of the Broadcasting Services Act 1992.
Dated: 24 October 2014
Australian Communications and Media Authority
1 Name of Instrument
This Instrument is the Broadcasting Services (Licensee Audit Exemption) Instrument 2014.
This Instrument commences on the day after it is registered.
Note All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See http://www.comlaw.gov.au.
In this Instrument, unless the contrary intention appears:
Act means the Broadcasting Services Act 1992.
financial year, in relation to a licensee, means:
(a) a period of 12 months ending on 30 June; or
(b) an accounting period adopted by the licensee with the permission of the ACMA under subsection 205B(2) of the Act, being a period of 12 months ending on a day other than 30 June.
gross earnings has the same meaning:
(a) in relation to a commercial radio broadcasting licence – as in the Radio Licence Fees Act 1964; and
(b) in relation to a commercial television broadcasting licence – as in the Television Licence Fees Act 1964.
included in the exempt class of licensees has the meaning given by section 4.
licensee means the holder of a commercial television broadcasting licence or a commercial radio broadcasting licence.
Note Other expressions in this Instrument have the same meaning as in the Act, including ACMA, commercial radio broadcasting licence, commercial television broadcasting licence and licence.
4 When is a licensee included in the exempt class of licensees?
In this Instrument, a licensee is included in the exempt class of licensees for a financial year if:
(a) the licensee’s gross earnings for that financial year are less than $5 million in relation to the service or services provided under the licence for that financial year; and
(b) the licensee has complied with the requirements of paragraph 205B(1)(c) of the Act for a period of not less than 3 financial years preceding that financial year.
Note 1 Prior to the commencement of the Omnibus Repeal Day (Autumn 2014) Act 2014, paragraph 205B(1)(c) had the effect that a licensee was required to give the ACMA, within 6 months after the end of a financial year:
· an audited balance-sheet and an audited profit and loss account, in a form approved by the ACMA, in relation to the service or services provided under the licence for that financial year; and
· a statutory declaration stating the gross earnings in relation to the licence during that financial year.
Since the commencement of that Act, paragraph 205B(1)(c) has the same effect, when read in conjunction with subsection 205B(4A) of the Act, subject to the availability of an exemption from the requirement to give the ACMA audited financial statements such as is created by this Instrument.
Note 2 A licensee:
· who is entitled to rely on the exemption created by this Instrument for a particular financial year;
· who so relies by giving the ACMA unaudited financial statements; and
· who otherwise complies with the requirements of paragraph 205B(1)(c) in respect of that financial year;
is taken to have complied with that provision in respect of that financial year.
5 Exemption from requirement to give audited financial statements
If a licensee is included in the exempt class of licensees for a financial year, the licensee is exempt from the requirement under subsection 205B(4A) of the Act to give the ACMA an audited balance-sheet and an audited profit and loss account in relation to the service or services provided under the licence for that financial year.