Corporations Act 2001
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. 303(2) Financial statements.
The financial statements for the half-year are:(a) unless paragraph (b) applies - the financial statements in relation to the disclosing entity required by the accounting standards; or (b) if the accounting standards require the disclosing entity to prepare financial statements in relation to a consolidated entity - the financial statements in relation to the consolidated entity required by the accounting standards.
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 ). 303(4) Directors ' declaration.
The directors ' declaration is a declaration by the directors:
(b) (Repealed) (c) whether, in the directors ' opinion, there are reasonable grounds to believe that the disclosing entity will be able to pay its debts as and when they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; and (d)
(i) section 304 (compliance with accounting standards); and
(ii) section 305 (true and fair view).
Note: See paragraph 285(3)(c) for the reference to the debts of a disclosing entity that is a registered scheme.
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.
[ CCH Note: S 303(5) will be amended by No 8 of 2022, s 3, Sch 2, by inserting the note, (effective 1 July 2022). The note will read:
Note: Section 1228 deals with directors ' resolutions for CCIVs.]