Document ID: chunk:federal_register_of_legislation:C2004A01334:clause:2_323ek:p1
Version: federal_register_of_legislation:C2004A01334
Segment Type: clause
Provision Reference: sch 2 cl 323EK (pt 1/2)
Character Range: 284551–287313

323EK  Financial Reporting Panel to consider and report on financial report referred to it under section 323EC or 323EG

 (1) The Financial Reporting Panel must:
 (a) consider the financial report; and
 (b) prepare a report that states, in relation to each of the referred financial reporting requirements, whether, in the Panel's opinion, the financial report complies with that requirement.

 (2) If:
 (a) the referral was made under section 323EC; and
 (b) the Panel determines that the financial report does not, in the Panel's opinion, comply with a referred financial reporting requirement;
the Financial Reporting Panel's report must also set out the changes that, in the Panel's opinion, would need to be made to the financial report to ensure that it does comply with that requirement.

 (3) If:
 (a) the referral was made under section 323EG; and
 (b) the Panel determines that the financial report does not, in the Panel's opinion, comply with a referred financial reporting requirement;
the Financial Reporting Panel's report may also set out the changes that, in the Panel's opinion, would need to be made to the financial report to ensure that it does comply with that requirement.

 (4) The Financial Reporting Panel's report must not disclose any confidential commercial information obtained by the Panel in the course of its consideration of the financial report.

 (5) The Financial Reporting Panel must give a copy of its report to:
 (a) the lodging entity; and
 (b) ASIC; and
 (c) the relevant market operator if the financial report referred to the Panel was one of a listed company or listed registered scheme.
Subject to subsection (6), the copies must be given within 60 days after the day on which the financial statement is referred to the Panel (the referral day).

 (6) The copies may be given more than 60 days after the referral day, but not more than 90 days after the referral day, if the Financial Reporting Panel gives notice to the lodging entity and ASIC of the extension within 60 days after the referral day.

 (7) ASIC must take such steps as it considers reasonable and appropriate to publicise:
 (a) the Financial Reporting Panel's report; and
 (b) if the Financial Reporting Panel's report sets out changes that, in the Panel's opinion, would need to be made to the financial report to ensure that it complies with a financial reporting requirement—whether the lodging entity has amended, or indicated that it intends to amend, the financial report to incorporate those changes.
Without limiting this, ASIC may make the report and the information referred to in paragraph (7)(b) available on the Internet.

 (8) If a copy of the Financial Reporting Panel's report is given to the relevant market operator under paragraph