Section 306 — Corporations Act 2001: Half-year directors’ report

(1) The directors of the disclosing entity must prepare a directors’ report for each half-year that consists of: (a) a review of the entity’s operations during the half-year and the results of those operations; and (b) the name of each person who has been a director of the disclosing entity at any time during or since the end of the half-year and the period for which they were a director. If consolidated financial statements are required, the review under paragraph (a) must cover the consolidated entity. Note: This subsection applies to sub-funds of retail CCIVs in a modified form: see subsection 1232F(6). (1A) The directors’ report must include a copy of the auditor’s declaration under section 307C in relation to the audit or review for the half-year. (2) If the financial report for a half-year includes additional information under paragraph 303(3)(c) (information included to give true and fair view of financial position and performance), the directors’ report for the half-year must also: (a) set out the directors’ reasons for forming the opinion that the inclusion of that additional information was necessary to give the true and fair view required by section 305; and (b) specify where that information can be found in the financial report. (3) The report must: (a) be made in accordance with a resolution of the directors; and (b) specify the date on which the report is made; and (c) be signed by a director. Note: Section 1228 deals with directors’ resolutions for CCIVs.