Acts and Regulations

C-16.05 - Condominium Property Act

Section 34
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Financial statements
34(1)A corporation shall have annual financial statements prepared in accordance with generally accepted accounting principles showing its assets and liabilities, its income and expenses and any other information prescribed by regulation.
34(2)At least 10 days before the annual owners’ meeting, a corporation shall do the following:
(a) file a copy of the financial statements with the Director; and
(b) mail or deliver a copy of the financial statements to each owner.
34(3)Before filing financial statements with the Director and before providing them to the owners, the financial statements shall be approved by the board, as evidenced by the signature at the foot of the balance sheet by 2 of the directors duly authorized to sign.
34(4)At the annual owners’ meeting the board shall present the following:
(a) a financial statement prepared in accordance with generally accepted accounting principles; and
(b) any information respecting the financial position of the corporation that the by-laws of the corporation require.
Financial statements
34(1)A corporation shall have annual financial statements prepared in accordance with generally accepted accounting principles showing its assets and liabilities, its income and expenses and any other information prescribed by regulation.
34(2)At least 10 days before the annual owners’ meeting, a corporation shall do the following:
(a) file a copy of the financial statements with the Director; and
(b) mail or deliver a copy of the financial statements to each owner.
34(3)Before filing financial statements with the Director and before providing them to the owners, the financial statements shall be approved by the board, as evidenced by the signature at the foot of the balance sheet by 2 of the directors duly authorized to sign.
34(4)At the annual owners’ meeting the board shall present the following:
(a) a financial statement prepared in accordance with generally accepted accounting principles; and
(b) any information respecting the financial position of the corporation that the by-laws of the corporation require.