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CORPORATIONS ACT 2001

CHAPTER 2M - FINANCIAL REPORTS AND AUDIT  

PART 2M.3 - FINANCIAL REPORTING  

Division 1 - Annual financial reports and directors' reports  

SECTION 293  SMALL PROPRIETARY COMPANY- SHAREHOLDER DIRECTION  

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293(1)  [Shareholder direction]  


Shareholders with at least 5% of the votes in a small proprietary company may give the company a direction to:


(a) prepare a financial report and directors' report for a financial year; and


(b) send them to all shareholders.

293(2)  [Requirements for direction]  


The direction must be:


(a) signed by the shareholders giving the direction; and


(b) made no later than 12 months after the end of the financial year concerned.

293(3)  [Direction may specify certain matters]  


The direction may specify all or any of the following:


(a) that the financial report does not have to comply with some or all of the accounting standards;


(b) that a directors' report or a part of that report need not be prepared;


(c) that the financial report is to be audited.

 



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