A T O home
Legal Database
Search   
for 
 
Access the database 
Browse database
Searches  
View last document
Quick access 
View legislation
View a document
Email Cross Reference Material Previous/Next Section Contents Previous/Next Result
Printable version
Printable
version

CORPORATIONS ACT 2001

CHAPTER 2M - FINANCIAL REPORTS AND AUDIT  

PART 2M.3 - FINANCIAL REPORTING  

Division 4 - Annual financial reporting to members  

SECTION 316A  ANNUAL FINANCIAL REPORTING TO MEMBERS OF COMPANIES LIMITED BY GUARANTEE  

 View history reference

316A(1)  [Members may elect how to receive financial report]  


A member of a company limited by guarantee may, by notice in writing to the company, elect to receive a hard copy or an electronic copy of the following reports:


(a) the financial reports;


(b) the directors' reports;


(c) the auditor's reports.

316A(2)  [Standing election]  


If a member makes an election in a financial year, the election:


(a) is made by the member for that financial year; and


(b) is a standing election made by the member for each later financial year until the member changes the election.

316A(3)  [Deadline for reporting to members]  


If the company prepares a financial report or a directors' report for a financial year, or obtains an auditor's report on the financial report, the company must send a copy of the report, free of charge, to each member who has made an election for that financial year, in accordance with the election, by the earlier of:


(a) 21 days before the next AGM after the end of the financial year; and


(b) 4 months after the end of the financial year.

Note: For the deadline for holding an AGM, see section 250N.

316A(4)  [Small companies limited by guarantee (member direction under section 294A)]  


If a member direction is given to a small company limited by guarantee under section 294A after the end of a financial year, subsection (3) does not apply and the company must send a copy of the reports that the company prepares or obtains as a result of the direction to each member who has made an election for that financial year, in accordance with the election, by the later of:


(a) 2 months after the date on which the direction was given; and


(b) 4 months after the end of the financial year.

316A(5)  [Strict liability offence]  


An offence based on subsection (3) or (4) is an offence of strict liability.

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


 



This information is provided by CCH Australia Limited. View the disclaimer and notice of copyright.
Top of page
More information on page