Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 322

Financial reports and directors' reports lodged by companies, registered schemes or disclosing entities

             (1)  If a financial report or directors' report is amended after it is lodged with ASIC, the company, registered scheme or disclosing entity must:

                     (a)  lodge the amended report with ASIC within 14 days after the amendment; and

                     (b)  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

          (1A)  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:

                     (a)  lodge the amended report with ASIC within 14 days after the amendment; and

                     (b)  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

             (2)  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:

                     (a)  the nature of the amendment; and

                     (b)  their right to obtain a copy of the amended report under subsection (1) or (1A).

Financial reports and directors' reports lodged by registrable superannuation entities

          (2A)  If:

                     (a)  a financial report or directors' report for a financial year relates to a registrable superannuation entity; and

                     (b)  the report is amended after it is lodged with ASIC;

the entity must, within 14 days after the amendment:

                     (c)  lodge the amended report with ASIC; and

                     (d)  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):

                              (i)  a copy of the amended report;

                             (ii)  a description of the nature of the amendment.

Offence

             (3)  An offence based on subsection (1), (1A), (2) or (2A) is an offence of strict liability.

Note 1:       For strict liability , see section 6.1 of the Criminal Code .

Note 2:       This section applies to sub-funds of retail CCIVs in a modified form: see section 1232M.