Co-operatives Act 2009

The directors’ report for a financial year must —

contain a review of operations during the year of the entity reported on and the results of those operations; and

give details of any significant changes in the entity’s state of affairs during the year; and

state the entity’s principal activities during the year and any significant changes in the nature of those activities during the year; and

give details of any matter or circumstance that has arisen since the end of the year that has significantly affected, or may significantly affect —

the entity’s operations in future financial years; or

the results of those operations in future financial years; or

the entity’s state of affairs in future financial years;

refer to likely developments in the entity’s operations in future financial years and the expected results of those operations; and

if the entity’s operations are subject to any particular and significant environmental regulation under a law of the Commonwealth or of a State or Territory — give details of the entity’s performance in relation to environmental regulation.

The entity reported on is —

the co‑operative (if consolidated financial statements are not required); or

the consolidated entity (if consolidated financial statements are required).

The directors’ report may omit material that would otherwise be included under subsection (1)(e) if it is likely to result in unreasonable prejudice to —

the co‑operative; or

if consolidated financial statements are required — the consolidated entity or any entity (including the co‑operative) that is part of the consolidated entity.

If material is omitted, the directors’ report must say so.