Corporations Act 2001

Sections and provisions with full text and the judgments that cite each one.

Section 306 — 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…

Section 307 — Audit of financial report

An auditor who conducts an audit of the financial report for a financial year or half-year must form an opinion about: (a) whether the financial report is in accordance with this Act, including: (i)…

Section 307A — Audit of financial report to be conducted in accordance with auditing standards

(1) If an individual auditor, or an audit company, conducts: (a) an audit or review of the financial report for a financial year; or (b) an audit or review of the financial report for a half-year;…

Section 307AA — Audit of sustainability report

An auditor who conducts an audit of the sustainability report for a financial year must form an opinion about: (a) whether the sustainability report is in accordance with this Act, including sections…

Section 307AB — Audit of sustainability report to be conducted in accordance with auditing standards

(1) If an individual auditor, or an audit company, conducts an audit of the sustainability report for a financial year, the individual auditor or audit company must conduct the audit in accordance…

Section 307B — Working papers for audit of financial or sustainability report to be retained for 7 years

Contravention by individual auditor or audit company (1) An auditor contravenes this subsection if: (a) the auditor is an individual auditor or an audit company; and (b) the auditor conducts: (i) an…

Section 307C — Auditor’s independence declaration

Contravention by individual auditor (1) If an individual auditor conducts: (a) an audit or review of the financial report for a financial year; or (b) an audit or review of the financial report for a…

Section 308 — Auditor’s report on annual financial report

(1) An auditor who audits the financial report for a financial year must report to members on whether the auditor is of the opinion that the financial report is in accordance with this Act,…

Section 309 — Auditor’s report on half-year financial report

Audit of financial report (1) An auditor who audits the financial report for a half-year must report to members on whether the auditor is of the opinion that the financial report is in accordance…

Section 309A — Auditor’s report on sustainability report

Audit of sustainability report (1) An auditor who audits the sustainability report for a financial year must report to members in accordance with subsections (2), (3), (4) and (5) on whether the…

Section 310 — Auditor’s power to obtain information

(1) The auditor: (a) has a right of access at all reasonable times to the books of the company, registered scheme or disclosing entity; and (b) may require any officer to give the auditor…

Section 311 — Reporting to ASIC

Contravention by individual auditor (1) An individual auditor conducting an audit (other than an audit of a registrable superannuation entity) contravenes this subsection if: (a) the auditor is aware…

Section 312 — Assisting auditor

(1) An officer of a company, registered scheme or disclosing entity must: (a) allow the auditor access to the books of the company, scheme or entity; and (b) give the auditor any information,…

Section 313 — Special provisions on audit of debenture issuers and guarantors

Auditor to give trustee for debenture holders copies of reports, certificates etc. (1) The auditor of a borrower in relation to debentures must give the trustee for debenture holders: (a) a copy of…

Section 314 — Annual financial and sustainability reporting by companies, registered schemes and disclosing entities to members

(1) A company, registered scheme or disclosing entity must report to members for a financial year by providing either of the following in accordance with subsection (1AE) or (1AF): (a) all of the…

Section 314A — Annual financial reporting by notified foreign passport funds to Australian members

(1) A notified foreign passport fund must report to Australian members of the fund for each financial year for the fund by providing Australian members with each of the following: (a) a copy of a…

Section 314AA — Annual financial reporting by registrable superannuation entities to members

(1) A registrable superannuation entity must report to members for a financial year by providing all of the following reports: (a) the financial report for the year; (aa) if the registrable…

Section 315 — Deadline for reporting to members

Public companies and disclosing entities that are not registered schemes (1) A public company, or a disclosing entity that is not a registered scheme, must report to members under section 314 by the…

Section 316 — Choices for members of companies, registered schemes or disclosing entities

(1) A member may request the company, registered scheme or disclosing entity to send them a full financial report, sustainability report (if one is required to be prepared) and the directors’ report…

Section 316A — 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…

Section 316B — Annual sustainability reporting to the public by other entities

(1) If: (a) an entity is required to prepare a sustainability report for a financial year; and (b) the entity is not required by this Division to provide the sustainability report to members; the…

Section 317 — Consideration of reports at AGM

(1) The directors of a public company that is required to hold an AGM must lay before the AGM: (a) the financial report; and (aa) the sustainability report (if one is required to be prepared); and…

Section 318 — Additional reporting by debenture issuers

(1) A company or disclosing entity that was a borrower in relation to debentures at the end of a financial year must give a copy of the annual financial report, sustainability report (if one is…

Section 319 — Lodgment of annual reports with ASIC

(1) A company, registered scheme, registrable superannuation entity or disclosing entity that has to prepare or obtain a report for a financial year under Division 1 must lodge the report with ASIC.…

Section 320 — Lodgment of half-year reports with ASIC

(1) A disclosing entity that has to prepare or obtain a report for a half-year under Division 2 must lodge the report with ASIC within 75 days after the end of the half-year. (2) An offence based on…

Section 321 — ASIC power to require lodgment

(1) ASIC may give a company, registered scheme, registrable superannuation entity or disclosing entity a direction to lodge with ASIC a copy of reports prepared or obtained by it under Division 1 or…

Section 322 — Relodgment if financial reports, sustainability reports or directors’ reports amended after lodgment

Financial reports, sustainability reports and directors’ reports lodged by companies, registered schemes or disclosing entities (1) If a financial report, sustainability report or directors’ report…

Section 323 — Directors and officers of controlled entity to give information

(1) If a company, registered scheme, registrable superannuation entity or disclosing entity has to prepare consolidated financial statements or has to prepare climate statements, a director or…

Section 323A — Auditor’s power to obtain information from controlled entity

(1) An auditor who audits or reviews a financial report that includes consolidated financial statements or a sustainability report that includes consolidated climate statements: (a) has a right of…

Section 323DA — Listed companies to disclose information filed overseas

(1) A company that discloses information to, or as required by: (a) the Securities and Exchange Commission of the United States of America; or (b) the New York Stock Exchange; or (c) a financial…

Section 323DAA — Meaning of financial year—notified foreign passport fund

A financial year for a notified foreign passport fund means: (a) a period of 12 months in relation to which the operator of the fund must, under the Passport Rules for the home economy for the fund,…

Section 323DAAA — Financial years for registrable superannuation entities

(1) The financial year for a registrable superannuation entity is the entity’s year of income (within the meaning of the Superannuation Industry (Supervision) Act 1993). Synchronisation of financial…

Section 323B — Controlled entity to assist auditor

(1) If a company, registered scheme, registrable superannuation entity or disclosing entity has to prepare a financial report that includes consolidated financial statements or has to prepare a…

Section 323DB — Requirement to notify market operator about jobkeeper payments

(1) A listed entity must give each relevant market operator a notice, for release to the market, in accordance with this section for a financial year if the listed entity, or a subsidiary of the…

Section 323C — Application of Division to entity that has ceased to be controlled

Sections 323, 323A and 323B apply to the preparation or audit of a financial report or sustainability report that covers a controlled entity even if the entity is no longer controlled by the company,…

Section 323DC — ASIC must publish report

(1) ASIC must publish on its website a consolidated report of all notices given to relevant market operators under section 323DB and released to the market. (2) ASIC must publish the consolidated…

Section 323D — Meaning of financial year and half-year—company, registered scheme and disclosing entity

First financial year (1) The first financial year for a company, registered scheme or disclosing entity starts on the day on which it is registered or incorporated. It lasts for 12 months or the…

Section 324AA — Individual auditors, audit firms and authorised audit companies

(1) Subject to this Part, the following may be appointed as auditor for a company or a registered scheme for the purposes of this Act: (a) an individual; (b) a firm; (c) a company. The company or…

Section 324BA — Registration requirements for appointment of individual as auditor

Subject to section 324BD, an individual contravenes this section if: (a) the individual: (i) consents to be appointed as auditor of a company, registered scheme or registrable superannuation entity;…

Section 324CA — General requirement for auditor independence—auditors

Contravention by individual auditor or audit company (1) An individual auditor or audit company contravenes this subsection if: (a) the individual auditor or audit company engages in audit activity…

Section 324CLA — Extended meaning of officer of a registrable superannuation entity

(1) For the purposes of this Division, a person is taken to be an officer of a registrable superannuation entity if: (a) the person is an officer of: (i) a related body corporate of the RSE licensee…

Section 324DA — Limited term for eligibility to play significant role in audit of a listed company, listed registered scheme or registrable superannuation entity

(1) If an individual plays a significant role in the audit of a listed company, listed registered scheme or registrable superannuation entity for 5 successive financial years (the extended audit…