Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 349

349. (1) Subject to this section, a registered foreign company shall, at least
once in every calendar year and at intervals of not more than 15 months, lodge
a copy of its balance-sheet made up to the end of its last financial year, and
a copy of its profit and loss account for its last financial year, in such
form and containing such particulars and including copies of such documents as
the company is required to prepare by the law for the time being applicable to
that company in its place of origin, together with a statement in writing in
the prescribed form verifying that the copies are true copies of the documents
so required.

(2) The Commission may extend the period within which subsection (1) requires
a balance-sheet, profit and loss account or other document to be lodged.

(3) The Commission may, if it is of the opinion that the balance-sheet, the
profit and loss account and the other documents referred to in subsection (1)
do not sufficiently disclose the company's financial position:

   (a)  require the company to lodge a balance-sheet;

   (b)  require the company to lodge an audited balance-sheet;

   (c)  require the company to lodge a profit and loss account; or

   (d)  require the company to lodge an audited profit and loss account;
        within such period, in such form, containing such particulars and
        including such documents as the Commission by notice in writing to the
        company requires, but this subsection does not authorise the
        Commission to require a balance-sheet or a profit and loss account to
        contain any particulars or include any documents that would not be
        required to be furnished if the company were a public company within
        the meaning of this Act.

(4) The registered foreign company shall comply with the requirements set out
in the notice.

(5) Where a registered foreign company is not required by the law of the place
of its incorporation or formation to prepare a balance-sheet, the company
shall prepare and lodge a balance-sheet, or, if the Commission so requires, an
audited balance-sheet, within such period, in such form and containing such
particulars and including such documents as the company would have been
required to prepare if the company were a public company incorporated under
this Act.

(6) Where a registered foreign company is not required by the law of its place
of origin to prepare a profit and loss account, the company shall prepare and
lodge a profit and loss account or, if the Commission so requires, an audited
profit and loss account, within such period, in such form, containing such
particulars and including such documents as the company would have been
required to prepare if the company were a public company incorporated under
this Act.

(7) The Commission may, by Gazette notice, declare that this section does not
apply to specified foreign companies.

(8) Subsections (1) to (6), inclusive, do not apply in relation to a foreign
company in relation to which a notice is in force under subsection (7).