3. Interpretation
(1) In these regulations, unless the contrary intention appears ¾
}AAS 27~ means Australian Accounting Standard AAS 27 }Financial Reporting by Local Governments~ issued by the Australian Accounting Research Foundation as amended from time to time;
}Australian Accounting Standard~ means a Statement of Accounting Standards issued by the Australian Accounting Research Foundation;
}back minimum payment~ or }back rate~ means an amount imposed under section 6.40(1) after an amendment to the rate record under section 6.39(2)(b);
}class of assets~ means a category of assets having a similar nature or function in the operations of the local government;
}interim minimum payment~ or }interim rate~ means an amount imposed under section 6.40(1) after an amendment to the rate record under section 6.39(2)(a);
}nature or type classification~ means a classification set forth in Part 2 of Schedule 1;
}net current assets~ means the net difference between the total current assets and the total current liabilities at 30 June;
}non-current asset~ has the meaning given by Australian Accounting Standard AAS 4 }Depreciation of Non-current Assets~;
}operating revenue~ means the operating revenue as determined in accordance with AAS 27;
}operating statement~ means the operating statement required by AAS 27;
}program~ means a program set forth in column 1 of Part 1 of Schedule 1;
}rate~ includes a minimum payment imposed under section 6.35;
}rate setting statement~ means the statement referred to in regulation 22(1)(d);
}section~ means section of the Act;
}statement of cash flows~ means the statement of cash flows required by AAS 27;
}statement of financial position~ means the statement of financial position required by AAS 27.
(2) Unless the contrary intention appears, a word or phrase used in these regulations and defined in AAS 27 has the same meaning in these regulations as in AAS 27.
(3) A reference in these regulations to a Form followed by a designation is a reference to the Form so designated set out in Schedule 2.
[Regulation 3 amended in Gazette 20 June 1997 p.2838.]