Treasury Laws Amendment (Strengthening Financial Systems and Other Measures) Act 2025 (72 of 2025)

Schedule 4   Minor and technical amendments

Part 1   Amendments commencing day after Royal Assent

Division 2   Sustainability reporting

Corporations Act 2001

12   After section 342B

Insert:

342C Documents to be treated as sustainability reports for certain purposes

Orders

(1) This section applies in relation to an order made under subsection 340(1) or 341(1) relieving, or having the effect of relieving, a company, registered scheme, registrable superannuation entity or disclosing entity, or companies, registered schemes, registrable superannuation entities or disclosing entities, from a requirement to prepare a sustainability report for a financial year.

(2) The order may provide that paragraph (4)(b) of this section applies to a specified document for the year.

(3) Section 342 does not limit subsection (2) of this section.

Relief condition reports

(4) Subsection (6) applies to a document (the relief condition report ) for a year if:

(a) the document is prepared by a company, registered scheme, registrable superannuation entity or disclosing entity (the reporting entity ); and

(b) the order provides under subsection (2) that this paragraph applies to the document for the year; and

(c) the document contains a declaration, in accordance with subsection (5), that the directors of the reporting entity intend that subsection (6) apply to the document.

(5) For the purposes of paragraph (4)(c), the declaration must:

(a) be made in accordance with a resolution of the directors; and

(b) specify the date on which the declaration is made; and

(c) be signed by a director.

(6) The following provisions apply in relation to the relief condition report as if it were a sustainability report that the reporting entity was required to prepare for the year:

(a) section 296E (ASIC directions);

(b) section 301A (audit of annual sustainability report).