Section 305 — Corporations Act 2001 (Cth)

The financial statements and notes for a half‑year must give a true and fair view of:

(a) the financial position and performance of the disclosing entity; or

(b) if consolidated financial statements are required—the financial position and performance of the consolidated entity.

This section does not affect the obligation under section 304 for financial reports to comply with accounting standards.

Note: If the financial statements prepared in compliance with the accounting standards would not give a true and fair view, additional information must be included in the notes to the financial statements under paragraph 303(3)(c).

Related sections

• s 302 — Disclosing entity must prepare half‑year financial report and directors’ report
• s 303 — Contents of half‑year financial report
• s 304 — Compliance with accounting standards and regulations
• s 306 — Half‑year directors’ report
• s 307 — Audit of financial report
• s 307A — Audit of financial report to be conducted in accordance with auditing standards

Research how courts apply s 305

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