Document ID: chunk:federal_register_of_legislation:C2004A04707:front:0:p18
Version: federal_register_of_legislation:C2004A04707
Segment Type: other
Provision Reference: 
Character Range: 44580–47433

Paragraph 331A(1)(a):

  Omit the paragraph, substitute:

  "(a) the company's financial statements for an accounting period; and".

75. After subsection 331A(1):

  Insert:

"(1A) If the accounting period is a financial year, the report is to be a report to the company's members.".

76. Subsection 331A(2):

Omit "The", substitute "If the accounting period is a financial year at the end of which the company was not a disclosing entity, the".

77. Section 331A:

  Add at the end:

"(3) If the company was a disclosing entity at the end of the accounting period, the auditor must give the report to the company's directors soon enough for them to comply with section 317A.".

78. After section 331 A:

  Insert:

Requirements for auditor's report

"331AA.(1) Subject to this section, sections 331B, 331C, 331D and 331E must be complied with in relation to the report.

  "(2) If the accounting period is a half-year, the report may instead:

    (a) state whether, as a result of a review of the financial statements, any matter has come to the auditor's attention that causes the auditor to believe that they are not drawn up as mentioned in subsection 331B(1); and

    (b) if a matter or matters have so come to the auditor's attention that cause the auditor so to believe—include a description of the matter or matters and a statement of the auditor's reasons for that belief.

SCHEDULE 1—continued

"(3) If the report complies with subsection (2), sections 331B, 331C, 331D and 331E do not apply to the report.".

79. Subsection 332(9):

  Insert "or reviewed in accordance with this Law" after "audited".

80. After section 408B:

  Insert:

Application of provisions applied by section 323A—certain disclosing entities that are prescribed corporations

  "408C.(1) In this section:

'section 323A provisions' means the applied provisions, within the meaning of section 323A, as they apply because of that section.

"(2) The section 323A provisions apply in relation to a prescribed corporation that is a disclosing entity to which section 323A applies.

"(3) For the purposes of the section 323A provisions, as they apply in relation to such a disclosing entity (including one that is a prescribed corporation) and an accounting period of the disclosing entity, a reference to an entity includes a reference to an entity that is a prescribed corporation.

"(4) The application that the section 323A provisions have because of subsections (2) and (3) is subject to this Part.".

81. Subsection 409(3):

  (a) Insert "annual" before "accounts" (second occurring).

  (b) Add at the end "for financial years".

82. Paragraph 409(5)(a):

Insert ", or are lodged in relation to a financial year of the corporation," after "corporation".

83. Paragraph 409(5)(b):

     (a) Insert "or are lodged in relation to a financial year of the corporation,"