Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 304

304. (1) The directors of a company that is not a group holding company at the
end of a particular financial year shall cause to be made out a report
complying with this Division, other than:

   (a)  in any case-section 305; and

   (b)  if at the end of the financial year the company was an exempt
        proprietary company or a wholly-owned subsidiary of another
        company-subsections (7), (8), (9) and (10) of this section.

(2) Subsection (1) does not apply in relation to a company in relation to a
financial year if the company is dormant throughout the period beginning at
the start of, and ending at the deadline after, the financial year.

(3) The report shall state the names of the directors in office on the day the
report is made out.

(4) The report shall state the company's principal activities in the course of
the financial year and any significant change in the nature of those
activities that occurred during the financial year.

(5) The report shall state the net amount of the company's profit or loss for
the financial year after provision for income tax.

(6) The report shall state the amount (if any) that the directors recommend
should be paid by way of dividend.

(7) The report shall state the amounts (if any) that have been paid or
declared by way of dividend since the start of the financial year, indicating
which (if any) of those amounts have been shown in a previous report under
this Division or a corresponding law.

(8) The report shall contain a review of the company's operations during the
financial year and of the results of those operations.

(9) The report shall give particulars of any significant change in the
company's state of affairs that occurred during the financial year.

(10) The report shall give particulars of any matter or circumstance that has
arisen since the end of the financial year and has significantly affected, or
may significantly affect:

   (a)  the company's operations;

   (b)  the results of those operations; or

   (c)  the company's state of affairs; in financial years after the financial
        year.

(11) The report shall refer to:

   (a)  likely developments in the company's operations; and

   (b)  the expected results of those operations; in financial years after the
        financial year.