Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Act 2024 (87 of 2024)

Schedule 4   Sustainability reporting

Part 1   Sustainability reporting

Corporations Act 2001

16   After section 286

Insert:

286A Obligation to keep sustainability records

(1) If an entity must prepare a sustainability report for a financial year, the entity must keep written sustainability records that correctly explain and record its preparation of the substantive provisions of the sustainability report.

Note: Section 9 defines sustainability records .

Period for which records must be retained

(2) The sustainability records must be retained for 7 years after the sustainability report to which the records relate is completed.

Fault-based offence

(3) A person commits an offence if the person contravenes subsection (1) or (2).

Strict liability offence

(4) A person commits an offence of strict liability if the person contravenes subsection (1) or (2).

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