Disclosing entity must prepare half‑year financial report and directors’ report

In force

A disclosing entity must:

(a)

prepare a financial report and directors’ report for each half‑year; and

(b)

have the financial report audited or reviewed in accordance with Division 3 and obtain an auditor’s report; and

(c)

lodge the financial report, the directors’ report and the auditor’s report on the financial report with ASIC;

unless the entity is not a disclosing entity when lodgment is due.

Note 1:

This Chapter only applies to disclosing entities incorporated or formed in Australia (see subsection 285(2)).

Note 2:

See section 320 for the time for lodgment with ASIC.

Note 3:

Subsection 318(4) requires disclosing entities that are borrowers in relation to debentures to also report to the trustee for debenture holders.

Note 4:

Section 1232F extends this section to preparing half‑year financial reports and directors’ reports for sub‑funds of retail CCIVs (if there are ED securities referable to the sub‑fund), and applies this Division accordingly.

This Act’s bill:Explanatory memorandum Second reading speech

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302 Disclosing entity must prepare half‑year financial report and directors’ report