Corporations Act 2001
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Hide history noteCCH Note: The application of Division 1 is affected by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (Externally-Administered Bodies) Instrument 2015/251.
For other legislative instruments or class orders before 1 January 2022 that affect the application of Division 1, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
Note: This Division applies to retail CCIVs with modifications: see Subdivision C of Division 4 of Part 8B.4 .
CCH Note: Section 299 is modified by the ASIC Corporations (Externally-Administered Bodies) Instrument 2015/251.
General information about operations and activities
299(1)
The directors ' report for a financial year must: (a) contain a review of operations during the year of the entity reported on and the results of those operations; and (b) give details of any significant changes in the entity ' s state of affairs during the year; and (c) state the entity ' s principal activities during the year and any significant changes in the nature of those activities during the year; and (d) give details of any matter or circumstance that has arisen since the end of the year that has significantly affected, or may significantly affect:
(i) the entity ' s operations in future financial years; or
(ii) the results of those operations in future financial years; or
(e) refer to likely developments in the entity ' s operations in future financial years and the expected results of those operations; and (f) if the entity ' s operations are subject to any particular and significant environmental regulation under a law of the Commonwealth or of a State or Territory - give details of the entity ' s performance in relation to environmental regulation.
(iii) the entity ' s state of affairs in future financial years; and
299(2)
The entity reported on is: (a) the company, registered scheme, registrable superannuation entity or disclosing entity (if consolidated financial statements are not required); or (b) the consolidated entity (if consolidated financial statements are required).
Prejudicial information need not be disclosed
299(3)
The report may omit material that would otherwise be included under paragraph (1)(e) if it is likely to result in unreasonable prejudice to: (a) the company, registered scheme, registrable superannuation entity or disclosing entity; or (b) if consolidated financial statements are required - the consolidated entity or any entity (including the company, registered scheme, registrable superannuation entity or disclosing entity) that is part of the consolidated entity.
If material is omitted, the report must say so.
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