Corporations Act 2001
CHAPTER 2M
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FINANCIAL REPORTS AND AUDIT
PART 2M.3
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FINANCIAL REPORTING
Division 2
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Half-year financial report and directors' report
SECTION 303
CONTENTS OF HALF-YEAR FINANCIAL REPORT
303(1)
Basic contents.
(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.
(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.
(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.
(a) (Repealed)
(b) (Repealed)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) whether, in the directors ' opinion, the financial statement and notes are in accordance with this Act, including:
(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.
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.
303(3)
Notes to financial statements.
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:
(a) (Repealed)
(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) whether, in the directors ' opinion, the financial statement and notes are in accordance with this Act, including:
(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.
303(5)
[
Requirements of declaration]
(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.
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