Co-operatives Act 2009

A co‑operative must prepare a directors’ report for each financial year.

The directors’ report must include —

the general information required by —

section 244Q; and

for co‑operatives with quoted securities — the Corporations Act section 299A (as applying under section 244S);

the specific information required by —

section 244R; and

for co‑operatives with quoted securities —the Corporations Act section 300 and 300A (as applying under section 244S);

a copy of the auditor’s declaration under the Corporations Act section 307C (as applying under section 244U) in relation to the audit for the financial year.

If the financial report for a financial year includes additional information under section 244K(3)(c) (information included to give a true and fair view of financial position and performance), the directors’ report for the financial year must also —

set out the directors’ reasons for forming the opinion that the inclusion of that additional information was necessary to give the true and fair view required by section 244M; and

specify where that additional information can be found in the financial report.

The directors’ report must —

be made in accordance with a resolution of the directors; and

specify the date on which the report is made; and

be signed by a director.

A small co‑operative does not have to comply with subsection (1) for a financial year if —

it is preparing financial statements for that year in response to a direction under section 244I or 244J; and

the direction specified that a directors’ report need not be prepared.