CORPORATIONS ACT 2001 - SECT 319 Lodgment of annual reports with ASIC

CORPORATIONS ACT 2001 - SECT 319

  (1)   A company, registered scheme, registrable superannuation entity or disclosing entity that has to prepare or obtain a report for a financial year under Division   1 must lodge the report with ASIC. In the case of a company, registered scheme or disclosing entity, this obligation extends to a concise report provided to members under section   314.

  (1AA)   A notified foreign passport fund must lodge each of the following with ASIC for each financial year for the fund:

  (a)   a copy of a report for the fund for the year, prepared in accordance with the financial reporting requirements applying to the fund under the Passport Rules for the home economy for the fund;

  (b)   a copy of each auditor's report that relates to the report mentioned in paragraph   (a).

  (1A)   An offence based on subsection   (1) or (1AA) is an offence of strict liability.

Note:   For strict liability , see section   6.1 of the Criminal Code .

  (2)   Subsection   (1) does not apply to:

  (a)   a small proprietary company that prepares a report in response to:

  (i)   a shareholder direction under section   293; or

  (ii)   an ASIC direction under section   294;

    if paragraph   292(2)(c) (about having CSF shareholders) does not also apply to the company for the financial year; and

  (b)   a small company limited by guarantee that prepares a report in response to a member direction under section   294A or an ASIC direction under section   294B.

  (3)   The time for lodgment is:

  (a)   within 3 months after the end of the financial year for a disclosing entity, registered scheme, registrable superannuation entity or notified foreign passport fund; and

  (b)   within 4 months after the end of the financial year for anyone else.

Registrable superannuation entities

  (4)   The regulations may require that the lodgment of a report by a registrable superannuation entity under subsection   (1) must be in a prescribed manner.

  (5)   A manner prescribed for the purposes of subsection   (4) may involve electronic communication.

  (6)   Subsection   (5) does not limit subsection   (4).

  (7)   Section   352 does not apply to the lodgment of a report if regulations are in force under subsection   (4) of this section in relation to the lodgment of the report.