Document ID: chunk:federal_register_of_legislation:C2004A04707:front:0:p7
Version: federal_register_of_legislation:C2004A04707
Segment Type: other
Provision Reference: 
Character Range: 15652–18443

months).

  2. The power of the directors to resolve another period is subject to the requirements of section 245 as to the holding of annual general meetings of the body.

3. The directors' resolution counts even if it is made when the body is not a company.

"(2) A financial year of an entity, within the meaning of Parts 3.6 and 3.7, that is not a body is a period, whether ending before, at or after the commencement of this section, in respect of which:

  (a) a profit and loss account of the entity was made out; or

     (b) a law of the Commonwealth or of a State or Territory required a profit and loss account of the entity to be made out.

"(3) A financial year of an undertaking to which prescribed interests relate is a period of 12 months that ends, whether before, at or after the commencement of this section, on:

  (a) 30 June; or

     (b) if there is a deed in relation to the prescribed interests and the deed specifies another day instead of 30 June—the day so specified.

"(4) In this section, a reference to a profit and loss account does not include a reference to a profit and loss account for a half-year of a disclosing entity.".

23. Subsection 83(2):

  Add at the end:

"; or (c) subsection 317A(1).".

SCHEDULE 1—continued

24. Paragraph 92(1)(b):

  Omit "body corporate or an unincorporated body", substitute "body".

25. Subsection 92(2):

  Omit "body corporate", substitute "body".

26. After Part 1.2:

  Insert:

"PART 1.2A—DISCLOSING ENTITIES

"Division 1—Object of Part

Object of Part

  "111AA. The object of this Part is:

     (a) to define 'disclosing entity' and other key terms relevant to disclosing entities (this is done in Division 2); and

     (b) to outline the significance for this Law of being a disclosing entity (this is done in Division 3); and

     (c) to provide for exemptions from, and modifications of, the special requirements imposed by this Law in relation to disclosing entities (this is done in Division 4).

"Division 2—Definitions

Terms defined in Division

  "111AB. This Division contains definitions of the following terms:

  (a) disclosing entity (section 111AC);

  (b) ED securities (section 111AD);

  (c) ED securities of a disclosing entity (section 111AK);

  (d) listed disclosing entity (subsection 111AL(1));

  (e) quoted ED securities (section 111AM);

  (f) unlisted disclosing entity (subsection 111AL(2)).

Disclosing entity

"111AC.(1) If any securities of a body (except prescribed interests and units of prescribed interests) are ED securities, the body is a disclosing entity for the purposes of this Law.

"(2) If any prescribed interests or units of prescribed interests are ED securities, the undertaking to which the interests relate is a disclosing entity for the purposes of this Law.