Document ID: chunk:federal_register_of_legislation:C2010A00066:clause:1_316a
Version: federal_register_of_legislation:C2010A00066
Segment Type: clause
Provision Reference: sch 1 cl 316A
Character Range: 27303–29043

316A  Annual financial reporting to members of companies limited by guarantee
 (1) A member of a company limited by guarantee may, by notice in writing to the company, elect to receive a hard copy or an electronic copy of the following reports:
 (a) the financial reports;
 (b) the directors' reports;
 (c) the auditor's reports.
 (2) If a member makes an election in a financial year, the election:
 (a) is made by the member for that financial year; and
 (b) is a standing election made by the member for each later financial year until the member changes the election.
 (3) If the company prepares a financial report or a directors' report for a financial year, or obtains an auditor's report on the financial report, the company must send a copy of the report, free of charge, to each member who has made an election for that financial year, in accordance with the election, by the earlier of:
 (a) 21 days before the next AGM after the end of the financial year; and
 (b) 4 months after the end of the financial year.
Note: For the deadline for holding an AGM, see section 250N.
 (4) If a member direction is given to a small company limited by guarantee under section 294A after the end of a financial year, subsection (3) does not apply and the company must send a copy of the reports that the company prepares or obtains as a result of the direction to each member who has made an election for that financial year, in accordance with the election, by the later of:
 (a) 2 months after the date on which the direction was given; and
 (b) 4 months after the end of the financial year.
 (5) An offence based on subsection (3) or (4) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.