Document ID: chunk:federal_register_of_legislation:F2016L01325:reg:5:p2
Version: federal_register_of_legislation:F2016L01325
Segment Type: reg
Provision Reference: reg 5 (pt 2/2)
Character Range: 3253–4810

believe that the entity will be able to pay its debts as and when they become due and payable (and evidenced this opinion in the minutes of a meeting of directors);
(b) if the financial year (within the meaning of the foreign law) is a period of less than 12 months, the requirements of the Act, the Corporations Regulations 2001, the Corporations (Fees) Regulations 2001 and any disallowable legislative instruments made by ASIC are applied in respect of that financial year as if:
(i) paragraph 45A(2)(a) of the Act applied as if the reference to "the financial year" in that paragraph were a reference to the period of 12 months ending at the end of the financial year (within the meaning of the foreign law); and
(ii) paragraph 45A(3)(a) of the Act applied as if the reference to "the financial year" in that paragraph were a reference to  the period of 12 months ending at the end of the financial year (within the meaning of the foreign law);
(c) if the entity or the director is relying on the relief in subparagraph (1)(b)(i), the notes to the financial statements of the entity that form part of the financial report prepared for the purposes of subsection 292(1) of the Act include a brief statement as to the relief provided by this instrument;
(d) if the entity or the director is relying on the relief in subparagraph (1)(b)(ii), the notes to the financial statements of the entity that form part of the financial report prepared for the purposes of section 302 of the Act include a brief statement as to the relief provided by this instrument.