Document ID: chunk:federal_register_of_legislation:F2022C01149:body:0:p14
Version: federal_register_of_legislation:F2022C01149
Segment Type: other
Provision Reference: 
Character Range: 32879–35482

prepare a financial report and directors' report for the financial year and lodge those documents with ASIC unless:
           (c) within one month of so ceasing, the company becomes a party to another deed of cross guarantee and (after making reasonable and diligent enquiries) the directors of the company have no reason to believe that the company will not be able to rely on the relief available under subsection 5(1) in respect of its next financial year; or
           (d)  the company was also subject to relief from the requirement to prepare a financial report under a provision of the Act or another ASIC instrument in respect of the relevant financial year; or
           (e) at the time the company ceases to be a wholly-owned entity it is less than 1 month until, or is after, the end of the first financial year immediately after the relevant financial year; or
            (f) ASIC has given the company written notice that it does not need to prepare and lodge those documents.

8 Companies excluded from relying on financial reporting relief
    The relief in subsection 5(1) does not apply to a company in relation to a relevant financial year if:
(a) ASIC has given a notice in writing to the company that it may not rely on that relief or may not rely on that relief for the relevant financial year; and
(b) ASIC has not withdrawn that notice or varied that notice so that it does not cover the relevant financial year.

9 Relief from requirement to appoint auditor
(1) A public company does not have to comply with a requirement under section 327B to appoint an auditor of the company at an AGM.
(2) A director of a public company does not have to comply with a requirement under section 327A or 327C in relation to the appointment of an auditor of the company.

10 When auditor appointment relief applies
(1) The relief in subsection 9(1) applies to a public company if, at the time the AGM is held:
           (a) the company is party to a deed of cross guarantee; and
           (b)  after making reasonable and diligent enquiries, the directors of the company have no reason to believe that the company will not be able to rely on the relief available under subsection 5(1) in respect of the financial year during which the AGM is held.
(2) The relief in subsection 9(2) applies to a director of a public company if, at the time of the auditor appointment deadline:
           (a) the company is party to a deed of cross guarantee; and
           (b) after making reasonable and diligent enquiries, the director has no reason to believe that the company will not be able to rely