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Financial Reporting and Stock Exchange

Large Proprietary Company Reporting Obligations

As previously indicated, I believe that the company has now become a “Large Proprietary Company” because of its recent growth in assets. As we already have...

Half – Yearly Accounts

Directors, as foreshadowed, now that we have completed our public prospectus offering, and have more than 100 shareholders, the company is now classed as a Disclosing Entity...

Synchronisation of Financial Years

Section 323D(3) of the Corporations Act requires that: where a company forms a subsidiary the financial year-end of that subsidiary must be the same as the parent...

Financial Year-End

For the Board’s information I detail below what I understand the regulations to be in relation to a company’s financial year-end. Under the Corporations Act (sec 323D) a...

Relief From Preparing Financial Reports

Section 340 of the Corporations Act allows company directors to apply to ASIC for relief from some financial reporting obligations. The relief may extend to the...

Financial Reporting Obligations

Many companies have obligations to prepare and report – either to the stock exchange, or to ASIC – on their financial position at least annually, and...

Dividends: Payment Deferral to Select Shareholders

You have asked me to consider whether we can defer payment of dividends to some of our shareholders, specifically the Founding Shareholders, in order to preserve...

Dividend – Issues to Consider

You have asked for my comments on the issues/process for paying a dividend to shareholders. As I see it the key issues/matters for consideration include: 1. Dividend source Dividends can only...

Directors’ Report – Information on Directors & Company Secretary

Under section 292 of the Corporations Act all companies that must prepare an annual financial report 1 must also prepare a Directors’ Report. Contents of Directors’ Report S.299 sets...

Directors’ Declaration

Section 295(1) of the Corporations Act details the basic contents of the annual financial report of a company, which consist of: The financial statements for the year;...

Data Protection Laws

As discussed at last board meeting, because our business provides a service to the public on-line, and ‘the public’ load up personal data to facilitate transactions,...

Deeds of Cross Guarantee – Leaving Group

With the de-merger of SAC it will no longer be part of the group of FLX companies which have cross guaranteed each other under a formal...

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