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CORPORATIONS ACT 2001

CHAPTER 2M - FINANCIAL REPORTS AND AUDIT  

PART 2M.3 - FINANCIAL REPORTING  

Division 4 - Annual financial reporting to members  

SECTION 316  MEMBER'S CHOICES FOR ANNUAL FINANCIAL INFORMATION  

316(1)  [Member request]  


A member may request the company, registered scheme or disclosing entity:


(a) not to send them the material required by section 314; or


(b) to send them a full financial report and the directors' report and auditor's report.

A request may be a standing request or for a particular financial year. The member is not entitled to a report for a financial year earlier than the one before the financial year in which the request is made.

316(2)  [Time for compliance with request]  


The time for complying with a request under paragraph (1)(b) is:


(a) 7 days after the request is received; or


(b) the deadline for reporting under section 315;

whichever is later.

316(3)  [No charge]  


A full financial report, directors' report and auditor's report are to be sent free of charge unless the member has already received a copy of them free of charge.

316(4)  [Strict liability offence]  

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An offence based on subsection (2) or (3) is an offence of strict liability.

Note: For strict liability, see section 6.1 of the Criminal Code.

316(5)  [No application to companies limited by guarantee]  

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This section does not apply in relation to a company limited by guarantee.


 



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