Commonwealth Consolidated Acts

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Lodgment of annual reports with ASIC

             (1)  A company, registered scheme or disclosing entity that has to prepare or obtain a report for a financial year under Division 1 must lodge the report with ASIC. This obligation extends to a concise report provided to members under section 314.

       (1AA)  A notified foreign passport fund must lodge each of the following with ASIC for each financial year for the fund:

                     (a)  a copy of a report for the fund for the year, prepared in accordance with the financial reporting requirements applying to the fund under the Passport Rules for the home economy for the fund;

                     (b)  a copy of each auditor's report that relates to the report mentioned in paragraph (a).

          (1A)  An offence based on subsection (1) or (1AA) is an offence of strict liability.

Note:          For strict liability , see section 6.1 of the Criminal Code .

             (2)  Subsection (1) does not apply to:

                     (a)  a small proprietary company that prepares a report in response to:

                              (i)  a shareholder direction under section 293; or

                             (ii)  an ASIC direction under section 294;

                            if paragraph 292(2)(c) (about having CSF shareholders) does not also apply to the company for the financial year; and

                     (b)  a small company limited by guarantee that prepares a report in response to a member direction under section 294A or an ASIC direction under section 294B.

             (3)  The time for lodgment is:

                     (a)  within 3 months after the end of the financial year for a disclosing entity, registered scheme or notified foreign passport fund; and

                     (b)  within 4 months after the end of the financial year for anyone else.

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