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CORPORATIONS ACT 2001

CHAPTER 2M - FINANCIAL REPORTS AND AUDIT  

PART 2M.6 - EXEMPTIONS AND MODIFICATIONS  

SECTION 340  EXEMPTION ORDERS - COMPANIES, REGISTERED SCHEMES AND DISCLOSING ENTITIES  

340(1)  [Application in relation to a company]  

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On an application made in accordance with subsection (3) in relation to a company, registered scheme or disclosing entity, ASIC may make an order in writing relieving any of the following from all or specified requirements of Parts 2M.2, 2M.3 and 2M.4 (other than Division 4):


(a) the directors;


(b) the company, scheme or entity;


(c) the auditor.

Note: For the criteria for making orders under this section, see section 342.

340(2)  [Order]  


The order may:


(a) be expressed to be subject to conditions; and


(b) be indefinite or limited to a specified period.

340(3)  [Application]  


The application must be:


(a) authorised by a resolution of the directors; and


(b) in writing and signed by a director; and


(c) lodged with ASIC.

340(4)  [Written notice]  


ASIC must give the applicant written notice of the making, revocation or suspension of the order.

 



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