s 293
In forceSmall proprietary company—shareholder direction
Volume 2Chapter 2L, Part 2L.1 to Chapter 5, Part 5.9 sections 283AA to 600K
Chapter 2MFinancial reports, sustainability reports and audit
Part 2M.3Financial and sustainability reporting
Division 1Annual financial reports, sustainability reports and directors’ reports
293 Small proprietary company—shareholder direction
(1)
Shareholders with at least 5% of the votes in a small proprietary company may give the company a direction to:
(a)
prepare a financial report and directors’ report for a financial year; and
(b)
send them to all shareholders.
(2)
The direction must be:
(a)
signed by the shareholders giving the direction; and
(b)
made no later than 12 months after the end of the financial year concerned.
(3)
The direction may specify all or any of the following:
(a)
that the financial report does not have to comply with some or all of the accounting standards;
(b)
that a directors’ report or a part of that report need not be prepared;
(c)
that the financial report is to be audited.
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