THE CORPORATIONS LAW
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82 The Corporations Law is as follows:...
CHAPTER 2M - FINANCIAL REPORTS AND AUDIT
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Hide history notePART 2M.3 - FINANCIAL REPORTING
Division 1 - Annual financial reports and directors' reports
SECTION 293 SMALL PROPRIETARY COMPANY - SHAREHOLDER DIRECTION 293(1) [Shareholder direction] Shareholders with at least 5% of the votes in a small proprietary company may give the company a direction to: (a) prepare a financial report and directors' report for a financial year; and (b) send them to all shareholders. 293(2) [Requirements for direction] The direction must be: (a) signed by the shareholders giving the direction; and (b) made no later than 12 months after the end of the financial year concerned. 293(3) [Direction may specify certain matters] The direction may specify all or any of the following: (a) that the financial report does not have to comply with some or all of the accounting standards (b) that a directors' report or a part of that report need not be prepared (c) that the financial report is to be audited.
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