Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

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Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

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History

Ch 7 amended by No 8 of 2022, s 3, Sch 2[165] (effective 1 July 2022).

Ch 7 inserted by No 122 of 2001, s 3, Sch 1, Pt 1 [ 1].

As Act No 122 of 2001 repealed Ch 7 and 8 the history notes for Ch 7 use " inserted " and references to the former provisions have been removed.

PART 7.8 - OTHER PROVISIONS RELATING TO CONDUCT ETC. CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE  

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CCH note - modifying legislative instruments: The application of Pt 7.8 is affected by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669 (Div 8 only) (as amended by ASIC Corporations (Amendment) Instrument 2024/554).

For legislative instruments or class orders before 1 January 2022 that affect the application of Pt 7.8, 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.

Division 6 - Financial records, statements and audit  

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CCH Note: Division 6 is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.

Subdivision C - Financial statements of financial services licensees  

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CCH Note: Subdivision C is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.

SECTION 989B   FINANCIAL SERVICES LICENSEE TO PREPARE AND LODGE ANNUAL PROFIT AND LOSS STATEMENT AND BALANCE SHEET  

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CCH Note: Section 989B is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.

989B(1)    
A financial services licensee must, in respect of each financial year, prepare a true and fair profit and loss statement and balance sheet in accordance with this Subdivision.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).

989B(2)    

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The licensee must lodge the statement and balance sheet with ASIC in a prescribed form in accordance with this Subdivision.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).

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History

S 989B(2) amended by No 76 of 2023, s 3, Sch 2 [ 489] (effective 20 October 2023).

989B(3)    
The licensee must, with the statement and balance sheet, lodge an auditor ' s report with ASIC containing the information and matters required by the regulations.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).

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History

S 989B inserted by No 122 of 2001, s 3, Sch 1, Pt 1 [ 1].

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