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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 294A  SMALL COMPANY LIMITED BY GUARANTEE - MEMBER DIRECTION  

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294A(1)  [Member direction]  


Members with at least 5% of the votes in a small company limited by guarantee may give the company a direction to:


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


(b) send them to members who have elected to receive them under section 316A.

294A(2)  [Requirements for direction]  


The direction must be:


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


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

294A(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 or reviewed.


 



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