Corporations Act 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS  

PART 10.77 - APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 4 TO THE TREASURY LAWS AMENDMENT (FINANCIAL MARKET INFRASTRUCTURE AND OTHER MEASURES) ACT 2024  

Division 2 - Sustainability reporting  

SECTION 1707DA   REPORTS NOT REQUIRED UNDER SECTION 292A  

1707DA(1)    
This section applies if a company, registered scheme, registrable superannuation entity or disclosing entity:

(a)    is not required to prepare a sustainability report for a particular financial year that commences during the 3 years starting on the start date; but

(b)    prepares a document that:

(i) would be a sustainability report for the year if the company, scheme or entity were required to prepare a sustainability report for the year; and

(ii) contains a declaration, in accordance with subsection (2) , that the directors intend that this section apply to the document.

1707DA(2)    
For the purposes of subparagraph (1)(b)(ii) , 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.

1707DA(3)    
To avoid doubt, the declaration referred to in subparagraph (1)(b)(ii) of this section is in addition to the declaration referred to in paragraph 296A(1)(e) .

Note: See also section 1707C .

1707DA(4)    
The following provisions apply in relation to the document mentioned in paragraph (1)(b) of this section as if the company, scheme or entity were required to prepare a sustainability report for the year:

(a)    section 296E (ASIC directions);

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

(c)    section 1707D (limited immunity for statements in new sustainability reporting).

1707DA(5)    
To avoid doubt:

(a)    if the year commences during the 3 years starting on the start date - a reference in subparagraph 1707D(3)(a)(ii) to an auditor ' s report of an audit or review of a sustainability report mentioned in subparagraph 1707D(3)(a)(i) includes a reference to an auditor ' s report, on the document mentioned in paragraph (1)(b) of this section, required by section 301A (as that section applies under subsection (4) of this section); and

(b)    if the year commences during the 12 months starting on the start date - a reference in subparagraph 1707D(4)(a)(ii) to an auditor ' s report of an audit or review of a sustainability report mentioned in subparagraph 1707D(4)(a)(i) includes a reference to an auditor ' s report, on the document mentioned in paragraph (1)(b) of this section, required by section 301A (as that section applies under subsection (4) of this section).