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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 295A  DECLARATION IN RELATION TO LISTED ENTITY'S FINANCIAL STATEMENTS BY CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER  

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295A(1)  [Declaration by CEO and CFO]  


If the company, disclosing entity or registered scheme is listed, the directors' declaration under subsection 295(4) must be made only after each person who performs:


(a) a chief executive function; or


(b) a chief financial officer function;

in relation to the company, disclosing entity or registered scheme has given the directors a declaration under subsection (2) of this section.

295A(2)  [Substance of declaration]  


The declaration is a declaration whether, in the person's opinion:


(a) the financial records of the company, disclosing entity or registered scheme for the financial year have been properly maintained in accordance with section 286; and


(b) the financial statements, and the notes referred to in paragraph 295(3)(b), for the financial year comply with the accounting standards; and


(c) the financial statements and notes for the financial year give a true and fair view (see section 297); and


(d) any other matters that are prescribed by the regulations for the purposes of this paragraph in relation to the financial statements and the notes for the financial year are satisfied.

295A(3)  [Declaration requirements]  


The declaration must:


(a) be made in writing; and


(b) specify the date on which the declaration is made; and


(c) specify the capacity in which the person is making the declaration; and


(d) be signed by the person making the declaration.

A person who performs both a chief executive function and a chief financial officer function may make a single declaration in both capacities.

295A(4)  [``chief executive function'']  


A person performs a chief executive function in relation to the company, disclosing entity or registered scheme if the person is the person who is primarily and directly responsible to the directors for the general and overall management of the company, disclosing entity or registered scheme.

295A(5)  [Alternative ``chief executive function'']  


If there is no one person who performs a chief executive function in relation to the company, disclosing entity or registered scheme under subsection (4), a person performs a chief executive function in relation to the company, disclosing entity or registered scheme if the person is one of a number of people who together are primarily and directly responsible to the directors for the general and overall management of the company, disclosing entity or registered scheme.

295A(6)  [``chief financial officer function'']  


A person performs a chief financial officer function in relation to the company, disclosing entity or registered scheme if that person is the person who is:


(a) primarily responsible for financial matters in relation to the company, disclosing entity or registered scheme; and


(b) directly responsible for those matters to either:


(i) the directors; or

(ii) the person or persons who perform the chief executive function in relation to the company.

295A(7)  [Alternative ``chief financial officer function'']  


If there is no one person who performs a chief financial officer function in relation to the company, disclosing entity or registered scheme under subsection (6), a person performs a chief financial officer function in relation to the company, disclosing entity or registered scheme if the person is one of a number of people who together are:


(a) primarily responsible for financial matters in relation to the company, disclosing entity or registered scheme; and


(b) directly responsible for those matters to either:


(i) the directors; or

(ii) the person or persons who perform the chief executive function in relation to the company.

295A(8)  [Effect on directors' responsibility]  


Nothing in this section derogates from the responsibility that a director has for ensuring that financial statements comply with this Act.


 



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