THE CORPORATIONS LAW

CHAPTER 2M - FINANCIAL REPORTS AND AUDIT

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PART 2M.3 - FINANCIAL REPORTING

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

SECTION 303   CONTENTS OF HALF-YEAR FINANCIAL REPORT  

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303(1)  Basic contents.  

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.

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303(1A)  (Repealed by No 61 of 1998, Sch 1 (effective 1 July 1998).)

303(2)  Financial statements.  

The financial statements for the half-year are:

(a)  except where paragraph (b) applies:

(i) a profit and loss statement for the half-year; and
(ii) a balance sheet as at the end of the half-year; and
(iii) a statement of cash flows for the half-year; and

(b)  if required by the accounting standards - a consolidated profit and loss statement, balance sheet and statement of cash flows.

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303(3)  Notes to financial statements.  

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).

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303(4)  Directors' declaration.  

The directors' declaration is a declaration by the directors:

(a)  that the financial statements, and the notes referred to in paragraph (3)(b), comply with the accounting standards; and

(b)  that the financial statements and notes give a true and fair view (see section 305); and

(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.

Note:

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

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303(5)  [Requirements]  

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.

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