Corporations Act 2001

CHAPTER 2M - FINANCIAL REPORTS AND AUDIT  

PART 2M.3 - FINANCIAL REPORTING  

Division 1 - Annual financial reports and directors' reports  

SECTION 295A   DECLARATION IN RELATION TO LISTED ENTITY'S FINANCIAL STATEMENTS BY CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER  

295A(1)   [ Declaration by CEO and CFO]  

If the company, disclosing entity or registered scheme is listed, the directors' declaration under subsection 295(4) must be made only after each person who performs:


(a) a chief executive function; or


(b) a chief financial officer function;

in relation to the company, disclosing entity or registered scheme has given the directors a declaration under subsection (2) of this section.

295A(2)   [ Substance of declaration]  

The declaration is a declaration whether, in the person's opinion:


(a) the financial records of the company, disclosing entity or registered scheme for the financial year have been properly maintained in accordance with section 286 ; and


(b) the financial statements, and the notes referred to in paragraph 295(3) (b), for the financial year comply with the accounting standards; and


(c) the financial statements and notes for the financial year give a true and fair view (see section 297 ); and


(d) any other matters that are prescribed by the regulations for the purposes of this paragraph in relation to the financial statements and the notes for the financial year are satisfied.

295A(3)   [ Declaration requirements]  

The declaration must:


(a) be made in writing; and


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


(c) specify the capacity in which the person is making the declaration; and


(d) be signed by the person making the declaration.

A person who performs both a chief executive function and a chief financial officer function may make a single declaration in both capacities.

295A(4)   [ ``chief executive function'']  

A person performs a chief executive function in relation to the company, disclosing entity or registered scheme if the person is the person who is primarily and directly responsible to the directors for the general and overall management of the company, disclosing entity or registered scheme.

295A(5)   [ Alternative ``chief executive function'']  

If there is no one person who performs a chief executive function in relation to the company, disclosing entity or registered scheme under subsection (4), a person performs a chief executive function in relation to the company, disclosing entity or registered scheme if the person is one of a number of people who together are primarily and directly responsible to the directors for the general and overall management of the company, disclosing entity or registered scheme.

295A(6)   [ ``chief financial officer function'']  

A person performs a chief financial officer function in relation to the company, disclosing entity or registered scheme if that person is the person who is:


(a) primarily responsible for financial matters in relation to the company, disclosing entity or registered scheme; and


(b) directly responsible for those matters to either:


(i) the directors; or

(ii) the person or persons who perform the chief executive function in relation to the company.

295A(7)   [ Alternative ``chief financial officer function'']  

If there is no one person who performs a chief financial officer function in relation to the company, disclosing entity or registered scheme under subsection (6), a person performs a chief financial officer function in relation to the company, disclosing entity or registered scheme if the person is one of a number of people who together are:


(a) primarily responsible for financial matters in relation to the company, disclosing entity or registered scheme; and


(b) directly responsible for those matters to either:


(i) the directors; or

(ii) the person or persons who perform the chief executive function in relation to the company.

295A(8)   [ Effect on directors' responsibility]  

Nothing in this section derogates from the responsibility that a director has for ensuring that financial statements comply with this Act.


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.