Section 294A — Corporations Act 2001 (Cth)

(1) Members with at least 5% of the votes in a small company limited by guarantee may give the company a direction to:

(a) prepare a financial report and directors’ report for a financial year; and

(b) send them to members who have elected to receive them under section 316A.

(2) The direction must be:

(a) signed by the members giving the direction; and

(b) made no later than 12 months after the end of the financial year concerned.

(3) The direction may specify all or any of the following:

(a) that the financial report does not have to comply with some or all of the accounting standards;

(b) that a directors’ report or a part of that report need not be prepared;

(c) that the financial report is to be audited or reviewed.

Related sections

• s 292A — Who has to prepare annual sustainability reports
• s 293 — Small proprietary company—shareholder direction
• s 294 — Small proprietary company—ASIC direction
• s 294B — Small company limited by guarantee—ASIC direction
• s 295 — Contents of annual financial report
• s 295A — Declaration in relation to listed entity’s financial statements by chief executive officer and chief financial officer

Research how courts apply s 294A

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.