Document ID: chunk:federal_register_of_legislation:F2021C01163:body:0:p3
Version: federal_register_of_legislation:F2021C01163
Segment Type: other
Provision Reference: 
Character Range: 5330–8077

to be given under that paragraph must include:
(i) a statement by an auditor referred to in paragraph 314(2)(c) of the Act; or
(ii) a statement that the auditor's report will be sent to a member free of charge if the member asks for it;
Note: See paragraph 314(2)(e) of the Act.
            (d) subsection 316(2) of the Act to the extent that it requires the company to send a member an auditor's report on its financial report.
(2) The auditor (if any) of the company does not have to comply with subsection 314(3) of the Act in relation to the company's financial report for the financial year.

6 Where the relief applies
    The relief in section 5 is available to a company and its auditor in relation to a relevant financial year where all of the following are satisfied as at 4 months after the end of the relevant financial year:
         Nature of company
(a) the company was:
           (i) a large proprietary company for the relevant financial year; or
           (ii) a small proprietary company to which paragraph 292(2)(b) of the Act applies in relation to the relevant financial year;
(b) if the company was a large proprietary company—subsection 319(4) of the Law, as taken to be included in the Act by subsection 1408(2) of the Act, does not apply to the company;
(c) the company was not, at any time during the relevant financial year, any of the following:
           (i) a disclosing entity;
           (ii) a borrower in relation to a debenture;
           (iii) the guarantor of such a borrower;
           (iv) a financial services licensee;
         Previous audits
(d) the company has not had its financial report or financial statements audited for a financial year ending during 1993 or any later financial year (except for a financial year which ended after 9 December 1995 and before 24 April 1997 if the company was a small proprietary company for that financial year and was controlled by a foreign company for all or part of that financial year);
    Resolutions by members and directors, and notice to ASIC
(e) within the period commencing 3 months before the commencement of the relevant financial year and ending 4 months after the end of the relevant financial year, the following have occurred:
           (i) all of the directors of the company have passed a unanimous resolution that the company's financial report for the relevant financial year should not be audited; and
           (ii) all of the members of the company (irrespective of whether they hold voting or non-voting shares) have passed a unanimous resolution that the company's financial report for the relevant financial year should not be audited; and
           (iii)  unless the company relied on the relief available under this instrument