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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 305  

305  TRUE AND FAIR VIEW  

The financial statements and notes for a half-year must give a true and fair view of:


(a) the financial position and performance of the disclosing entity; or


(b) if consolidated financial statements are required - the financial position and performance of the consolidated entity.

This section does not affect the obligation under section 304 for financial reports to comply with accounting standards.

Note: If the financial statements prepared in compliance with the accounting standards would not give a true and fair view, additional information must be included in the notes to the financial statements under paragraph 303(3)(c).


 



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