Corporations Act. Australia
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Название: Corporations Act
Автор: Australia
Издательство: Проспект
Жанр: Юриспруденция, право
isbn: 9785392086429
isbn:
(a) the scheme’s responsible entity is responsible for the performance of obligations in respect of the scheme; and
(b) the directors and officers of the responsible entity are taken to be the directors and officers of the scheme; and
(c) the debts incurred in operating the scheme are taken to be the debts of the scheme.
285A Overview of obligations of companies limited by guarantee
The following table sets out what is involved in annual financial reporting for companies limited by guarantee:
Annual financial reporting for companies limited by guarantee
Item
Nature of company
Obligations
Sections
1
Small company limited by guarantee.
No obligation to do any of the following unless required to do so under a member direction or ASIC direction:
• prepare a financial report;
• prepare a directors’ report;
• have financial report audited;
• notify members of reports.
Sections 292, 301 and 316A
2
Company limited by guarantee with annual revenue or, if part of a consolidated entity, annual consolidated revenue of less than $1 million.
Must prepare a financial report.
Must prepare a directors’ report, although less detailed than that required of other companies.
Need not have financial report audited unless a Commonwealth company, or a subsidiary of a Commonwealth company or Commonwealth authority. If the company does not have financial report audited, it must have financial report reviewed.
Must give reports to any member who elects to receive them.
Sections 292, 298, 300B, 301, 316A
3
Company limited by guarantee with annual revenue or, if part of a consolidated entity, annual consolidated revenue of $1 million or more.
Must prepare a financial report.
Must prepare a directors’ report, although less detailed than that required of other companies.
Must have financial report audited.
Must give reports to any member who elects to receive them.
Sections 292, 298, 300B, 301, 316A
Part 2M.2 — Financial records
286 Obligation to keep financial records
(1) A company, registered scheme or disclosing entity must keep written financial records that:
(a) correctly record and explain its transactions and financial position and performance; and
(b) would enable true and fair financial statements to be prepared and audited.
The obligation to keep financial records of transactions extends to transactions undertaken as trustee.
Note: Section 9 defines financial records.
Period for which records must be retained
(2) The financial records must be retained for 7 years after the transactions covered by the records are completed.
Strict liability offences
(3) An offence based on subsection (1) or (2) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.
287 Language requirements
(1) The financial records may be kept in any language.
(2) An English translation of financial records not kept in English must be made available within a reasonable time to a person who:
(a) is entitled to inspect the records; and
(b) asks for the English translation.
(3) An offence based on subsection (2) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.
288 Physical format
(1) If financial records are kept in electronic form, they must be convertible into hard copy. Hard copy must be made available within a reasonable time to a person who is entitled to inspect the records.
(2) An offence based on subsection (1) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.
289 Place where records are kept
(1) A company, registered scheme or disclosing entity may decide where to keep the financial records.
Records kept outside this jurisdiction
(2) If financial records about particular matters are kept outside this jurisdiction, sufficient written information about those matters must be kept in this jurisdiction to enable true and fair financial statements to be prepared. The company, registered scheme or disclosing entity must give ASIC written notice in the prescribed form of the place where the information is kept.
(2A) An offence based on subsection (2) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.
(3) ASIC may direct a company, registered scheme or disclosing entity to produce specified financial records that are kept outside this jurisdiction.
(4) The direction must:
(a) be in writing; and
(b) specify a place in this jurisdiction where the records are to be produced (the place must be reasonable in the circumstances); and
(c) СКАЧАТЬ