Document ID: chunk:federal_register_of_legislation:C2004A01334:clause:2_323ed
Version: federal_register_of_legislation:C2004A01334
Segment Type: clause
Provision Reference: sch 2 cl 323ED
Character Range: 276702–277687

323ED  ASIC to notify lodging entity of proposed referral

 (1) If ASIC proposes to refer the financial report to the Financial Reporting Panel, ASIC must give the lodging entity written notice of the proposed referral.

 (2) The notice must:
 (a) identify the financial reporting requirement or requirements that, in ASIC's opinion, the financial report does not comply with; and
 (b) set out, in relation to each of those financial reporting requirements:
 (i) the reasons for ASIC's opinion that the financial report does not comply with that requirement; and
 (ii) the changes that, in ASIC's opinion, would need to be made to the financial report to ensure that it does comply with that requirement; and
 (c) include a statement setting out the effect of section 323EE; and
 (d) be in the prescribed form.

 (3) For the purposes of this Act, the requirements referred to in paragraph (2)(a) are the relevant financial reporting requirements in relation to the financial report.