Section 322 — Corporations Act 2001 (Cth)

Financial reports, sustainability reports and directors’ reports lodged by companies, registered schemes or disclosing entities

(1) If a financial report, sustainability report or directors’ report is amended after it is lodged with ASIC, the company, registered scheme or disclosing entity must:

(a) lodge the amended report with ASIC within 14 days after the amendment; and

(b) give a copy of the amended report free of charge to any member who asks for it.

Reports on financial matters lodged by notified foreign passport funds

(1A) If a report lodged with ASIC by a notified foreign passport fund is amended after it is lodged with ASIC, the notified foreign passport fund must:

(a) lodge the amended report with ASIC within 14 days after the amendment; and

(b) give a copy of the amended report free of charge to any Australian member who asks for it.

Notifying members if there is a material amendment

(2) If the amendment is a material one, the company, registered scheme, notified foreign passport fund or disclosing entity must also notify members as soon as practicable of:

(a) the nature of the amendment; and

(b) their right to obtain a copy of the amended report under subsection (1) or (1A).

Financial reports, sustainability reports and directors’ reports lodged by registrable superannuation entities

(2A) If:

(a) a financial report, sustainability report or directors’ report for a financial year relates to a registrable superannuation entity; and

(b) the report is amended after it is lodged with ASIC;

the entity must, within 14 days after the amendment:

(c) lodge the amended report with ASIC; and

(d) make both of the following publicly available on the entity’s website on and after the day on which the amended report is lodged with ASIC under paragraph (c):

(i) a copy of the amended report;

(ii) a description of the nature of the amendment.

Offence

(3) An offence based on subsection (1), (1A), (2) or (2A) is an offence of strict liability.

Note 1: For strict liability, see section 6.1 of the Criminal Code.

Note 2: This section applies to sub‑funds of retail CCIVs in a modified form: see section 1232M.

Related sections

• s 319 — Lodgment of annual reports with ASIC
• s 320 — Lodgment of half‑year reports with ASIC
• s 321 — ASIC power to require lodgment
• s 323 — Directors and officers of controlled entity to give information
• s 323A — Auditor’s power to obtain information from controlled entity
• s 323B — Controlled entity to assist auditor

Research how courts apply s 322

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