278Annual directors’ report

#### 278 Annual directors’ report 278 Annual directors’ report (cf Corporations Act s 298) > > (1) A co-operative must prepare a directors’ report for each financial year. > > > (2) The directors’ report must include— > > > > > (a) the general information required by— > > > > > > > (i) section 279 of this Law (all co-operatives); and > > > > > > > (ii) section 299A of the Corporations Act (as applying under section 281) (co-operatives with quoted securities); and > > > > > (b) the specific information required by— > > > > > > > (i) section 280 of this Law (all co-operatives); and > > > > > > > (ii) sections 300 and 300A of the Corporations Act (as applying under section 281) (co-operatives with quoted securities); and > > > > > (c) a copy of the auditor’s declaration under section 307C of the Corporations Act (as applying under section 283) in relation to the audit for the financial year. > > > (3) If the financial report for a financial year includes additional information under section 273 (3) (c) (information included to give a true and fair view of financial position and performance), the directors’ report for the financial year must also— > > > > > (a) set out the directors’ reasons for forming the opinion that the inclusion of that additional information was necessary to give the true and fair view required by section 275; and > > > > > (b) specify where that additional information can be found in the financial report. > > > (4) The directors’ report must— > > > > > (a) be made in accordance with a resolution of the directors; and > > > > > (b) specify the date on which the report is made; and > > > > > (c) be signed by a director. > > > (5) A small co-operative does not have to comply with subsection (1) for a financial year if— > > > > > (a) it is preparing financial statements for that year in response to a direction under section 271 or 272; and > > > > > (b) the direction specified that a directors’ report need not be prepared.