Section 316A — Corporations Act 2001: Annual financial and sustainability reporting to members of companies limited by guarantee

(1) A member of a company limited by guarantee may, by notifying the company (whether or not in writing), elect to receive the following reports: (a) the financial reports; (aa) the sustainability reports; (b) the directors’ reports; (c) the auditor’s reports on the financial report; (d) the auditor’s reports on the sustainability report. (2) If a member makes an election in a financial year, the election: (a) is made by the member for that financial year; and (b) is a standing election made by the member for each later financial year until the member changes the election. (3) If the company prepares a financial report or a directors’ report for a financial year, or obtains an auditor’s report on the financial report, the company must send a copy of the report, free of charge, to each member who has made an election for that financial year by the earlier of: (a) 21 days before the next AGM after the end of the financial year; and (b) 4 months after the end of the financial year. Note: For the deadline for holding an AGM, see section 250N. (3A) If the company prepares a sustainability report for a financial year, the company must send a copy of the report, free of charge, to each member who has made an election for that financial year by the earlier of: (a) 21 days before the next AGM after the end of the financial year; and (b) 4 months after the end of the financial year. Note: For the deadline for holding an AGM, see section 250N. (3B) If the company obtains an auditor’s report on the sustainability report, the company must send a copy of the report, free of charge, to each member who has made an election for that financial year by the earlier of: (a) 21 days before the next AGM after the end of the financial year; and (b) 4 months after the end of the financial year. Note: For the deadline for holding an AGM, see section 250N. (4) If a member direction is given to a small company limited by guarantee under section 294A after the end of a financial year, subsection (3) does not apply and the company must send a copy of the reports that the company prepares or obtains as a result of the direction to each member who has made an election for that financial year by the later of: (a) 2 months after the date on which the direction was given; and (b) 4 months after the end of the financial year. (5) An offence based on subsection (3), (3A), (3B) or (4) is an offence of strict liability. Note: For strict liability, see section 6.1 of the Criminal Code.