Corporations Act 2001

CHAPTER 2M - FINANCIAL REPORTS, SUSTAINABILITY REPORTS AND AUDIT  

PART 2M.3 - FINANCIAL AND SUSTAINABILITY REPORTING  

Division 2 - Half-year financial report and directors ' report  

SECTION 303   CONTENTS OF HALF-YEAR FINANCIAL REPORT  

Basic contents

303(1)    
The financial report for a half-year consists of:

(a)    the financial statements for the half-year; and

(b)    the notes to the financial statements; and

(c)    the directors ' declaration about the statements and notes.

Financial statements

303(2)    

The financial statements for the half-year are:

(a)    unless paragraph (b) applies - the financial statements in relation to the disclosing entity required by the accounting standards; or

(b)    if the accounting standards require the disclosing entity to prepare financial statements in relation to a consolidated entity - the financial statements in relation to the consolidated entity required by the accounting standards.

Notes to financial statements

303(3)    
The notes to the financial statements are:

(a)    disclosures required by the regulations; and

(b)    notes required by the accounting standards; and

(c)    any other information necessary to give a true and fair view (see section 305 ).

Directors ' declaration

303(4)    
The directors ' declaration is a declaration by the directors:

(a) (Repealed)

(b) (Repealed)

(c)    whether, in the directors ' opinion, there are reasonable grounds to believe that the disclosing entity will be able to pay its debts as and when they become due and payable; and

(d)    

whether, in the directors ' opinion, the financial statement and notes are in accordance with this Act, including:

(i) section 304 (compliance with accounting standards); and

(ii) section 305 (true and fair view).

Note: See paragraph 285(3)(c) for the reference to the debts of a disclosing entity that is a registered scheme.

303(5)    
The declaration must:

(a)    be made in accordance with a resolution of the directors; and

(b)    specify the day on which the declaration is made; and

(c)    be signed by a director.

Note: Section 1228 deals with directors ' resolutions for CCIVs.