289Lodgment of annual reports by large co-operatives with Registrar

289 Lodgment of annual reports by large co-operatives with Registrar

289 Lodgment of annual reports by large co-operatives with Registrar

(cf Corporations Act s 319)

(1) A large co-operative that has to prepare or obtain a report for a financial year under Divisions 3–5 must lodge the report with the Registrar. This obligation extends to a concise report provided to members under section 284.

Maximum penalty—$2,500.

(2) An offence based on subsection (1) is an offence of strict liability.

(3) The time for lodgment is—

(a) within 3 months after the end of the financial year for a co-operative that is a disclosing entity within the meaning of the Corporations Act; and

(b) within 5 months after the end of the financial year for any other co-operative.