Federal Register of Legislation - Australian Government

Primary content

ASIC Class Order [CO 08/15]

Authoritative Version
CO 08/15 Orders/ASIC Class Orders as made
This Class Order relieves disclosing entities whose first financial year is 8 months or less from the requirement to prepare and lodge a half-year financial report and directors' report for that financial year.
Administered by: Treasury
Registered 26 Feb 2008
Tabling HistoryDate
Tabled HR11-Mar-2008
Tabled Senate11-Mar-2008
Date of repeal 26 Aug 2016
Repealed by ASIC Corporations (Amendment and Repeal) Instrument 2016/247

 

Australian Securities and Investments Commission
Corporations Act 2001 — Subsection 341(1) — Order

 

 

Enabling legislation

 

1.         The Australian Securities and Investments Commission (ASIC) makes this order under subsection 341(1) of the Corporations Act 2001 (the Act).

 

Title

2.         This order is ASIC Class Order [CO 08/15].

 

 

Commencement

 

3.         This instrument commences on the date it is registered under the Legislative Instruments Act 2003.

 

Note:       An instrument is registered when it is recorded on the Federal Register of Legislative Instruments (FRLI) in electronic form: see Legislative Instruments Act 2003, s 4 (definition of register).  The FRLI may be accessed at http://www.frli.gov.au/.

 

 

Exemption from preparing and lodging half-year financial reports etc

 

4.         A disclosing entity does not have to comply with sections 302 or 306 of the Act for a half-year within the disclosing entity’s first financial year where that financial year lasts for 8 months or less.

 

Where exemption is available

 

5.         The exemption is available only where all of the following apply:

 

(a)        in the case of a listed disclosing entity – the entity gives a notice to the operator of each prescribed financial market on the official list of which the entity is included, on or before the deadline for lodging the reports which would have been required to be prepared by section 302 of the Act but for this order, which explains the effect of the order and states that the entity intends to rely on it; and

 

(b)        in the case of an unlisted disclosing entity – the entity gives a notice to ASIC, on or before the deadline for lodging the reports which would have been required to be prepared by section 302 of the Act but for this order, which states that the entity intends to rely on the order; and  

 

 

(c)        the directors’ report for the first financial year of the disclosing entity explains the effect of this order and states that the entity relied on it.

 

 

Interpretation

 

6.         In this order:

 

directors’ report means the directors’ report referred to in section 298 of the Act.

 

 

 

Dated this 18th day of January 2008

 

 

 

 

 

Signed by Brendan Byrne

as a delegate of the Australian Securities and Investments Commission