Relodgment if financial reports, sustainability reports or directors’ reports amended after lodgment
322 Relodgment if financial reports, sustainability reports or directors’ reports amended after lodgment
Financial reports, sustainability reports and directors’ reports lodged by companies, registered schemes or disclosing entities
If a financial report, sustainability report or directors’ report is amended after it is lodged with ASIC, the company, registered scheme or disclosing entity must:
lodge the amended report with ASIC within 14 days after the amendment; and
give a copy of the amended report free of charge to any member who asks for it.
Reports on financial matters lodged by notified foreign passport funds
If a report lodged with ASIC by a notified foreign passport fund is amended after it is lodged with ASIC, the notified foreign passport fund must:
lodge the amended report with ASIC within 14 days after the amendment; and
give a copy of the amended report free of charge to any Australian member who asks for it.
Notifying members if there is a material amendment
If the amendment is a material one, the company, registered scheme, notified foreign passport fund or disclosing entity must also notify members as soon as practicable of:
the nature of the amendment; and
their right to obtain a copy of the amended report under subsection (1) or (1A).
Financial reports, sustainability reports and directors’ reports lodged by registrable superannuation entities
If:
a financial report, sustainability report or directors’ report for a financial year relates to a registrable superannuation entity; and
the report is amended after it is lodged with ASIC;
the entity must, within 14 days after the amendment:
lodge the amended report with ASIC; and
make both of the following publicly available on the entity’s website on and after the day on which the amended report is lodged with ASIC under paragraph (c):
a copy of the amended report;
a description of the nature of the amendment.
Offence
An offence based on subsection (1), (1A), (2) or (2A) is an offence of strict liability.
For strict liability, see section 6.1 of the Criminal Code.
This section applies to sub‑funds of retail CCIVs in a modified form: see section 1232M.
This Act’s bill:Explanatory memorandumSecond reading speech
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