Corporations Amendment (Corporate Reporting Reform) Act 2010 (66 of 2010)
Schedule 1 Amendments relating to the Corporations Act 2001
Part 1 Main amendments
Corporations Act 2001
23 At the end of section 298
Add:
Small companies limited by guarantee
(4) A small company limited by guarantee does not have to comply with subsection (1) for a financial year if:
(a) it is preparing the financial statements for that year in response to a member direction under section 294A; and
(b) the direction specified that a directors' report need not be prepared.
Note: The following heading to subsection 298(3) is inserted "Small proprietary companies".
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