CORPORATIONS ACT 2001

CHAPTER 2M - FINANCIAL REPORTS AND AUDIT  

PART 2M.3 - FINANCIAL REPORTING  

Division 1 - Annual financial reports and directors' reports  

SECTION 294A   SMALL COMPANY LIMITED BY GUARANTEE - MEMBER DIRECTION  

294A(1)   [ Member direction]  

Members with at least 5% of the votes in a small company limited by guarantee may give the company a direction to:

(a) prepare a financial report and directors ' report for a financial year; and

(b) send them to members who have elected to receive them under section 316A .

294A(2)   [ Requirements for direction]  

The direction must be:

(a) signed by the members giving the direction; and

(b) made no later than 12 months after the end of the financial year concerned.

294A(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 or reviewed.