Corporations Act 2001

CHAPTER 2M - FINANCIAL REPORTS AND AUDIT  

PART 2M.3 - FINANCIAL REPORTING  

Division 1 - Annual financial reports and directors ' reports  

Note: This Division applies to retail CCIVs with modifications: see Subdivision C of Division 4 of Part 8B.4 .

SECTION 293   SMALL PROPRIETARY COMPANY - SHAREHOLDER DIRECTION  

293(1)    
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)    
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)    
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.