278Annual directors' report (cf Corporations Act s 298)

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.

Co-operatives (National Uniform Legislation) Act 2015 174 (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.