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CORPORATIONS ACT 2001

CHAPTER 2M - FINANCIAL REPORTS AND AUDIT  

PART 2M.3 - FINANCIAL REPORTING  

Division 2 - Half-year financial report and directors' report  

SECTION 303  CONTENTS OF HALF-YEAR FINANCIAL REPORT  

303(1)  Basic contents.  


The financial report for a half-year consists of:


(a) the financial statements for the half-year; and


(b) the notes to the financial statements; and


(c) the directors' declaration about the statements and notes.

303(2)  Financial statements.  

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The financial statements for the half-year are:


(a) unless paragraph (b) applies - the financial statements in relation to the disclosing entity required by the accounting standards; or


(b) if the accounting standards require the disclosing entity to prepare financial statements in relation to a consolidated entity - the financial statements in relation to the consolidated entity required by the accounting standards.

303(3)  Notes to financial statements.  


The notes to the financial statements are:


(a) disclosures required by the regulations; and


(b) notes required by the accounting standards; and


(c) any other information necessary to give a true and fair view (see section 305).

303(4)  Directors' declaration.  


The directors' declaration is a declaration by the directors:


(a) (Repealed)
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(b) (Repealed)
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(c) whether, in the directors' opinion, there are reasonable grounds to believe that the disclosing entity will be able to pay its debts as and when they become due and payable; and


(d) whether, in the directors' opinion, the financial statement and notes are in accordance with this Act, including:

(i) section 304 (compliance with accounting standards); and

(ii) section 305 (true and fair view).

Note: See paragraph 285(3)(c) for the reference to the debts of a disclosing entity that is a registered scheme.

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303(5)  [Requirements of declaration]  


The declaration must:


(a) be made in accordance with a resolution of the directors; and


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


(c) be signed by a director.

 



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