Corporations Act 2001

CHAPTER 2M - FINANCIAL REPORTS, SUSTAINABILITY REPORTS AND AUDIT  

PART 2M.1 - OVERVIEW  

Note: This Chapter applies to CCIVs with modifications: see Division 4 of Part 8B.4 .

SECTION 285A  

285A   OVERVIEW OF OBLIGATIONS OF COMPANIES LIMITED BY GUARANTEE  

The following table sets out what is involved in annual financial and sustainability 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
4	Company limited by guarantee with annual revenue or, if part of a consolidated entity, annual consolidated revenue of $1 million or more and which meets sustainability reporting thresholds in section 292A .	Must prepare a financial report. Must prepare a sustainability report. Must prepare a director ' s report, although less detailed than that required of other companies. Must have financial report audited. Must have sustainability report audited. Must give reports to any member who elects to receive them.	Sections 292 , 292A , 296A , 296B , 298 , 300B , 301 , 301A , 307AA , 316A