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CORPORATIONS ACT 2001 - SECT 318

Additional reporting by debenture issuers

  (1)   A company or disclosing entity that was a borrower in relation to debentures at the end of a financial year must give a copy of the annual financial report, directors' report and auditor's report to the trustee for debenture holders by the deadline for the financial year set by section   315.

Note:   This section applies to sub - funds of retail CCIVs in a modified form: see section   1232L.

  (2)   A debenture holder may ask the company or disclosing entity that issued the debenture for copies of:

  (a)   the last reports provided to members under section   314; or

  (b)   the full financial report and the directors' report and auditor's report for the last financial year.

  (3)   The company or entity must give the debenture holder the copies as soon as practicable after the request and free of charge.

  (4)   A disclosing entity that was a borrower in relation to debentures at the end of a half - year must give a copy of the half - year financial report, directors' report and auditor's report to the trustee for debenture holders within 75 days after the end of the half - year.

  (5)   An offence based on subsection   (1), (3) or (4) is an offence of strict liability.

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


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