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Section 322(1), (1A) and (2) Corporations Act 2001
Relodgment if Financial Statements or Directors’ Reports Amended After Lodgment

Section 322(1), (1A) and (2) of the Corporations Act 2001 (Cth) is ‘Relodgment if Financial Statements or Directors’ Reports Amended After Lodgment’ and is extracted below.

If you require the services of a criminal defence team that specialises in corporate crime and compliance, call Sydney Criminal Lawyers today on (02) 9261 8881 to arrange a consultation.

Our criminal defence lawyers are vastly experienced in advising and representing corporations and individuals who are facing investigations for regulatory issues and proceedings for criminal offences, and our expertise in serious and complex cases means you can rest assured of receiving the most effective legal representation whatever your situation may involve.

The Legislation

Section 322(1), (1A) and (2) of the Corporations Act 2001 (Cth) is Relodgment if Financial Statements or Directors’ Reports Amended After Lodgment and reads as follows:

Relodgment if Financial Statements or Directors’ Reports Amended After Lodgment

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

(1) If a financial 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).

The penalties                                                                                                              

The maximum penalty for the offence of Relodgment if Financial Statements or Directors’ Reports Amended After Lodgment is:

30 penalty units (a Commonwealth penalty unit is currently $210).

However, it should be kept in mind that maximum penalties are reserved for the most serious cases.

Your legal team will be able to advise you of the essential elements the prosecution would need to prove in order to establish the offence, whether those elements are capable of being established in your particular situation, the most effective and efficient way forward and the likely outcome.

Why Sydney Criminal Lawyers®?

Choosing the right legal team to defend your reputation and interests can be a difficult process.

However, it is always important to look at a firm’s experience and results when making this decision.

At Sydney Criminal Lawyers®, we have extensive experience defending and winning some of the most complex criminal matters – so you can rest assured that you are in safe hands.

Our criminal law specialists will take the time in every case to carefully scrutinise all the evidence in order to identify problems with the prosecution case at an early stage in the proceedings.

Where issues are found, our lawyers will write to the prosecution asking to have the charges dropped on this basis – often sparing our clients the considerable time and expense associated with defended hearings.

However, should your matter proceed to court, our senior lawyers will represent you and present a strong defence case to maximise your chances of being found ‘not guilty.’

Our senior lawyers are highly skilled advocates who have been recognised for their expert knowledge of the criminal law, as well as their ability to obtain excellent results in difficult cases.

We can assist you in avoiding the harsh penalties imposed by the law if you simply wish to plead guilty – in these cases, our experienced advocates can prepare and present compelling sentencing submissions which focus on any positive factors of your case.

For the best defence in your case, get the experts on your side today. Call us now on (02) 9261 8881 and book your FREE first conference with our criminal law specialists.

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