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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 318  ADDITIONAL REPORTING BY DEBENTURE ISSUERS  

318(1)  [Trustee to receive reports]  


A company or disclosing entity that was a borrower in relation to debentures at the end of a financial year must give a copy of the annual financial report, directors' report and auditor's report to the trustee for debenture holders by the deadline for the financial year set by section 315.

318(2)  [Debenture holder]  


A debenture holder may ask the company or disclosing entity that issued the debenture for copies of:


(a) the last reports provided to members under section 314; or
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(b) the full financial report and the directors' report and auditor's report for the last financial year.

318(3)  [Copies to debenture holder]  


The company or entity must give the debenture holder the copies as soon as practicable after the request and free of charge.

318(4)  [Disclosing entity that was a borrower in relation to debentures]  


A disclosing entity that was a borrower in relation to debentures at the end of a half-year must give a copy of the half-year financial report, directors' report and auditor's report to the trustee for debenture holders within 75 days after the end of the half-year.

318(5)  [Strict liability offence]  

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An offence based on subsection (1), (3) or (4) is an offence of strict liability.

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


 



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