Document ID: chunk:federal_register_of_legislation:C2008A00020:clause:1_46
Version: federal_register_of_legislation:C2008A00020
Segment Type: clause
Provision Reference: sch 1 cl 46
Character Range: 21098–22686

46  Subsection 36(1)
Repeal the subsection, substitute:

 (1) A Commonwealth company must give the responsible Minister:
 (a) a copy of the company's financial report, directors' report and auditor's report that the company is required by the Corporations Act 2001 to have for the financial year (or would be required by that Act to have if the company were a public company); and
 (b) any additional report under subsection (2); and
 (c) in the case of a wholly‑owned Commonwealth company—any additional information or report required by the Finance Minister's Orders.

 (1A) The Commonwealth company must give the reports and information by:
 (a) if the company is required by the Corporations Act 2001 to hold an annual general meeting—the earlier of the following:
 (i) 21 days before the next annual general meeting after the end of the financial year;
 (ii) 4 months after the end of the financial year; and
 (b) in any other case—4 months after the end of the financial year;
or the end of such further period granted under subsection 34C(5) of the Acts Interpretation Act 1901.

 (1B) A director of the company contravenes this subsection if the director:
 (a) causes subsection (1) or (1A) to be contravened; or
 (b) fails to take all reasonable steps to comply with, or secure compliance with, subsection (1) or (1A).

Note: This is a civil penalty provision (see Schedule 2).

 (1C) A director of the company commits an offence if the director contravenes subsection (1B) and the contravention is dishonest.

Penalty: 2,000 penalty units or imprisonment for 5 years, or both.