Corporations Act 2001




334(1)   AASB ' s power to make accounting standards.  

The AASB may, by legislative instrument, make accounting standards for the purposes of this Act. The standards must not be inconsistent with this Act or the regulations.

(Repealed by No 154 of 2007, s 3, Sch 4 [ 18] (effective 24 September 2007).)

334(4)   [ Periods to which accounting standards apply]  

An accounting standard applies to:

(a) periods ending after the commencement of the standard; or

(b) periods ending, or starting, on or after a later date specified in the standard.

334(5)   [ Early adoption]  

A company, registered scheme or disclosing entity may elect to apply the accounting standard to an earlier period unless the standard says otherwise. The election must be made in writing by the directors.


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