ASIC Corporations (Post Balance Date Reporting) Instrument 2015/842
made under subsection 341(1) of the Corporations Act 2001
Compilation No. 1
Compilation date: 5/1/2024
Includes amendments up to: ASIC Corporations (Amendment) Instrument 2023/142 [F2024L00024]
About this compilation
This compilation
This is a compilation of the ASIC Corporations (Post Balance Date Reporting) Instrument 2015/842 that shows the text of the law as amended and in force on 5/1/2024 (the compilation date).
The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.
Uncommenced amendments
The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.
Application, saving and transitional provisions for provisions and amendments
If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.
Modifications
If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.
Self‑repealing provisions
If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.
Contents
1 Name of legislative instrument
5 Relief for post balance date disclosure
1 Name of legislative instrument
This is the ASIC Corporations (Post Balance Date Reporting) Instrument 2015/842.
This instrument is made under subsection 341(1) of Corporations Act 2001.
(1) In this instrument:
Act means Corporations Act 2001.
relevant entity means company, registered scheme, registrable superannuation entity or disclosing entity.
(2) Information is material in relation to a financial statement if its misstatement in or omission from the statement could influence the economic decisions taken on the basis of the statement.
5 Relief for post balance date disclosure
Relief
(1) A relevant entity does not have to comply with Part 2M.3 of the Act, and a retail CCIV does not have to comply with Part 2M.3 of the Act in relation to a sub-fund, to the extent that that Part prevents the notes to the financial statements and consolidated financial statements for a financial year (the relevant period) or half-year (the relevant period) from including a balance sheet (and, where applicable, a consolidated balance sheet) explaining the financial effect of acquisitions (the relevant transactions) and disposals (the relevant transactions) of entities and businesses after the end of the relevant period.
Where relief applies
(2) The relief in subsection (1) is available where both of the following apply:
(a) either:
(i) the relevant transactions have a material effect on the relevant entity or sub-fund (as the case may be) and a single entity balance sheet is included in the notes to the financial statements that is either:
(A) an actual balance sheet drawn up to a point in time after the relevant transactions have occurred; or
(B) a pro forma balance sheet drawn up on the basis of the relevant entity’s or sub-fund’s (as the case may be) actual balance sheet drawn up at the end of the relevant period or a later date; or
(ii) consolidated financial statements are included in the financial report, the relevant transactions have a material effect on the consolidated entity and a consolidated balance sheet is presented in the notes to those consolidated financial statements that is either:
(A) an actual consolidated balance sheet drawn up to a point in time after the relevant transactions have occurred; or
(B) a pro forma consolidated balance sheet drawn up on the basis of the consolidated entity’s actual consolidated balance sheet drawn up at the end of the relevant period or a later date;
(b) where a pro forma balance sheet or pro forma consolidated balance sheet is included in a note to the financial statements in accordance with sub-subparagraph (a)(i)(B) or sub-subparagraph (a)(ii)(B):
(i) the pro forma balance sheet is prepared on a basis consistent with the accounting standards; and
(ii) the basis of preparation and any key underlying assumptions are disclosed in the note; and
(iii) any other material transactions or events after balance date are reflected in the note where necessary to ensure that the pro forma balance sheet is not misleading.
The endnotes provide information about this compilation and the compiled law.
The following endnotes are included in every compilation:
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
Abbreviation key—Endnote 2
The abbreviation key sets out abbreviations that may be used in the endnotes.
Legislation history and amendment history—Endnotes 3 and 4
Amending laws are annotated in the legislation history and amendment history.
The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.
The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.
Misdescribed amendments
A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.
If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and “(md not incorp)” is added to the amendment history.
ad = added or inserted | orig = original |
am = amended | par = paragraph(s)/subparagraph(s) |
amdt = amendment | /sub‑subparagraph(s) |
c = clause(s) | pres = present |
C[x] = Compilation No. x | prev = previous |
Ch = Chapter(s) | (prev…) = previously |
def = definition(s) | Pt = Part(s) |
Dict = Dictionary | r = regulation(s)/rule(s) |
disallowed = disallowed by Parliament | reloc = relocated |
Div = Division(s) | renum = renumbered |
exp = expires/expired or ceases/ceased to have | rep = repealed |
Effect | rs = repealed and substituted |
F = Federal Register of Legislation | s = section(s)/subsection(s) |
gaz = gazette | Sch = Schedule(s) |
LA = Legislation Act 2003 | Sdiv = Subdivision(s) |
LIA = Legislative Instruments Act 2003 | SLI = Select Legislative Instrument |
(md not incorp) = misdescribed amendment | SR = Statutory Rules |
cannot be given effect | Sub‑Ch = Sub‑Chapter(s) |
mod = modified/modification | SubPt = Subpart(s) |
No. = Number(s) | underlining = whole or part not |
o = order(s) | commenced or to be commenced |
Ord = Ordinance |
|
Name | Registration | Commencement | Application, saving and transitional provisions |
ASIC Corporations (Post Balance Date Reporting) Instrument 201/842 | 30/9/2015 (see F2015L01552) | 1/10/2015 |
|
ASIC Corporations (Amendment) Instrument 2023/142 | 4/1/2024 (see F2024L00024) | 5/1/2024 |
|
Provision affected | How affected |
s 2 | rep LA s 48D |
s 4 | am 2023/142 |
s 5 | am 2023/142 |
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