285Deadline for reporting to members

285 Deadline for reporting to members

(1) General rule (cf Corporations Act s 315 (4))

A co-operative must report to members under section 284 within 5 months after the end of the financial year, except where section 315 (1) of the Corporations Act as applying under subsection (2) applies to the co-operative.

(2) Application of Corporations Act—rule for co-operatives that are disclosing entities

A co-operative that is a disclosing entity within the meaning of the Corporations Act is declared to be an applied Corporations legislation matter for the purposes of the Corporations application legislation of this jurisdiction in relation to section 315 (1) of the Corporations Act, subject to the following modifications:

(a) the applied provision is to be read as if the words “four months” were omitted and the words “5 months” were substituted;

(b) the modifications referred to in sections 13 (3) and 264 of this Law so far as they are relevant.