CORPORATIONS ACT 2001

CHAPTER 2M - FINANCIAL REPORTS AND AUDIT  

PART 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.