Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 2M.3.01

Disclosures required by notes to consolidated financial statements--annual financial reports (Act s 295)

             (1)  For paragraph 295(3)(a) of the Act, if paragraph 295(2)(b) of the Act applies to a parent entity, the following disclosures are required in the notes to the financial statements of the consolidated entity:

                     (a)  current assets of the parent entity;

                     (b)  total assets of the parent entity;

                     (c)  current liabilities of the parent entity;

                     (d)  total liabilities of the parent entity;

                     (e)  shareholders' equity in the parent entity separately showing issued capital and each reserve;

                      (f)  profit or loss of the parent entity;

                     (g)  total comprehensive income of the parent company;

                     (h)  details of any guarantees entered into by the parent entity in relation to the debts of its subsidiaries;

                      (i)  details of any contingent liabilities of the parent entity;

                      (j)  details of any contractual commitments by the parent entity for the acquisition of property, plant or equipment;

                     (k)  comparative information for the previous period for each of paragraphs (a) to (j).

             (2)  The disclosures in subregulation (1) must be calculated in accordance with accounting standards in force in the financial year to which the disclosure relates.

             (3)  In this regulation:

"parent entity " means a company, registered scheme or disclosing entity that is required by the accounting standards to prepare financial statements in relation to a consolidated entity.



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