Source: https://www.legislation.gov.au/Details/F2020L00469
Timestamp: 2020-05-31 04:31:36
Document Index: 754231503

Matched Legal Cases: ['art 2', 'art 2', 'art 2', 'art 7', 'art 7', 'art 7']

Details: F2020L00469
- F2020L00469
This instrument implements temporary measures aimed at facilitating financial reporting by unlisted entities whose reporting processes take additional time due to current remote work arrangements, travel restrictions and other impacts of COVID-19. The temporary measures are intended to allow unlisted entities up to one additional month to complete financial reports and have those reports audited, in compliance with the financial reporting and audit requirements of the Corporations Act 2001.
F2020L00469
This is the ASIC Corporations (Extended Reporting and Lodgment Deadlines—Unlisted Entities) Instrument 2020/395.
(1) A public company that is not listed and an unlisted disclosing entity that is not a registered scheme is relieved from subsection 315(1) of the Act for a financial year that ends between 31 December 2019 and 31 March 2020 (both inclusive) where it reports to members under section 314 of the Act by the earlier of:
(2) A registered scheme that is not listed is relieved from subsection 315(3) of the Act for a financial year that ends between 31 December 2019 and 31 March 2020 (both inclusive) where it reports to members under section 314 of the Act within 4 months after the end of the financial year.
(3) A proprietary company that is not covered by subsection 315(1) or (2) of the Act is relieved from subsection 315(4) of the Act for a financial year that ends between 31 December 2019 and 31 March 2020 (both inclusive) where it reports to members under section 314 of the Act within 5 months after the end of the financial year.
(1) An unlisted disclosing entity and a registered scheme that is not listed is relieved from subsection 319(3) of the Act for a financial year that ends between 31 December 2019 and 31 March 2020 (both inclusive) where it lodges the reports required to be prepared or obtained for the financial year under Division 1 of Part 2M.3 of the Act with ASIC within 4 months after the end of the financial year.
(2) Any other entity that is not listed is relieved from subsection 319(3) of the Act for a financial year that ends between 31 December 2019 and 31 March 2020 (both inclusive) where it lodges the reports that it is required to prepare or obtain for the financial year under Division 1 of Part 2M.3 of the Act with ASIC within 5 months after the end of the financial year.
(3) An unlisted disclosing entity is relieved from subsection 320(1) of the Act for a half-year that ends between 31 December 2019 and 31 March 2020 (both inclusive) where it lodges the reports that it is required to prepare or obtain for the half-year under Division 2 of Part 2M.3 of the Act with ASIC within 105 days after the end of the half-year.
(1) A financial services licensee that is not a body corporate is exempt from subsection 989D(1) of the Act for a financial year that ends between 31 December 2019 and 31 March 2020 (both inclusive) where it lodges the reports that it is required to prepare or obtain for the financial year under Subdivision C of Division 6 of Part 7.8 of the Act with ASIC before the day that is 3 months after the end of that financial year.
(2) A financial services licensee that is an unlisted disclosing entity is exempt from subsection 989D(1) of the Act for a financial year that ends between 31 December 2019 and 31 March 2020 (both inclusive) where it lodges the reports that it is required to prepare or obtain for the financial year under Subdivision C of Division 6 of Part 7.8 of the Act with ASIC before the day that is 4 months after the end of that financial year.
(3) Any other financial services licensee that is a body corporate and is not listed is exempt from subsection 989D(1) of the Act for a financial year that ends between 31 December 2019 and 31 March 2020 (both inclusive) where it lodges the reports that it is required to prepare or obtain for the financial year under Subdivision C of Division 6 of Part 7.8 of the Act with ASIC before the day that is 5 months after the end of that financial year.
An auditor of a compliance plan for a registered scheme that is not listed is exempt from subsection 601HG(3) of the Act for a financial year of the registered scheme that ends between 31 December 2019 and 31 March 2020 (both inclusive) where the auditor does the things required by that subsection within 4 months after the end of the financial year.