Document ID: chunk:federal_register_of_legislation:F2023L01277:body:0:p2
Version: federal_register_of_legislation:F2023L01277
Segment Type: other
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Character Range: 2748–5728

stapled issuer which under the terms on which it is traded on a prescribed financial market, must be transferred together with a security of one or more other entities.

       Part 2—Order

5 Relief to enable combination or consolidation of stapled entities
       (1)          A company (the relevant entity), registered scheme (the relevant entity) or disclosing entity (the relevant entity) which is a stapled issuer does not have to comply with:
(a) subsection 292(1) and subsection 314(1) of the Act in relation to a financial year (the relevant year); and
(b) section 302 of the Act in relation to a half-year (the relevant half-year);
       to the extent that:
(c) subsection 295(2) or 303(2) or paragraph 314(2)(a) of the Act prevents the inclusion in the financial report (the relevant entity report) or concise report (the relevant entity report) of the relevant entity for the relevant half-year or relevant year of consolidated financial statements or combined financial statements that include the other entities (the other group members) that are stapled issuers in the same stapled group as the relevant entity; and
(d) subsection 296(1) or section 304 of the Act requires the relevant entity to present consolidated financial statements that do not include the other group members.
       (2)          The relief in subsection 5(1) is available only where all of the following apply:
(a) one of the following applies:
(i) the relevant entity prepared a financial report under Chapter 2M of the Act for the previous reporting period that contained consolidated financial statements or combined financial statements that included the other group members;
(ii)  since the time that the stapled group included the relevant entity and the other group members, the relevant entity has not prepared a financial report under Chapter 2M of the Act other than the relevant entity report;
(b) the relevant entity report includes consolidated financial statements or combined financial statements (whichever was presented for the previous reporting period if subparagraph 5(2)(a)(i) applies or consolidated financial statements if subparagraph 5(2)(a)(ii) applies) that:
(i) consolidate any entities controlled by the relevant entity in accordance with accounting standard AASB 10 Consolidated Financial Statements other than the other group members; and
(ii) consolidate the other group members if consolidated financial statements are included; and
(iii) combine the other group members if combined financial statements are included;
(c) the consolidated or combined financial statements referred to in paragraph 5(1)(c) comply with Chapter 2M of the Act other than by including the other group members;
(d) each of the other group members are required to prepare financial reports for the relevant half-year or relevant year in accordance with Chapter 2M of the Act;
(e)  the relevant entity report discloses whether the financial statements presented in accordance with