CORPORATIONS ACT 2001
A CS facility licensee must, within 3 months after the end of its financial year, give ASIC an annual report on the extent to which the licensee complied with its obligations as a CS facility licensee under this Chapter.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).821E(2) [ Content of annual report]
The licensee must ensure that the annual report is accompanied by any information and statements prescribed by regulations made for the purposes of this subsection.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).821E(3) [ Audit report]
The licensee must also ensure that the annual report is accompanied by any audit report that the Minister requires under subsection (4).
Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).821E(4) [ Minister may require audit report]
The Minister may, by giving written notice to a CS facility licensee, require the licensee to obtain an audit report on the annual report and on any information or statements accompanying it. The Minister must nominate to prepare the audit report:
(a) ASIC; or
(b) a specified person or body that is suitably qualified. 821E(5) [ Report to Minister]
ASIC must give the annual report and accompanying material to the Minister.
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