THE CORPORATIONS LAW

CHAPTER 2M - FINANCIAL REPORTS AND AUDIT

PART 2M.3 - FINANCIAL REPORTING

Division 1 - Annual financial reports and directors' reports

SECTION 294   SMALL PROPRIETARY COMPANY - ASIC DIRECTION  

294(1)  [ASIC direction]  

ASIC may give a small proprietary company a direction to comply with requirements of this Division and Divisions 3, 4, 5 and 6 for a financial year.

294(2)  [General or specific requirements]  

The direction may be general or may specify the particular requirements that the company is to comply with.

294(3)  [Date]  

The direction must specify the date by which the documents have to be prepared, sent or lodged. The date must be a reasonable one in view of the nature of the direction.

294(4)  [Requirements for direction]  

The direction must:

(a)  be made in writing; and

(b)  specify the financial year concerned; and

(c)  be made no later than 6 years after the end of that financial year.