(1) In this Schedule, unless the contrary intention appears:
accounts has the same meaning as in section 9 of the Corporations Law.
balance sheet does not include the notes to a balance sheet.
business undertaking means a financial or business undertaking or scheme that is carried on by means of or through an unincorporated association, a joint venture, a partnership or a trust, in Australia or elsewhere.
comparative financial period means:
(a) in relation to:
(i) the accounts of a corporation referred to in paragraph 1058 (5) (b) of the Corporations Law; or
(ii) if that body is a chief entity — the consolidated accounts prepared in accordance with that paragraph for a period of 6 months after the end of a financial year of that body;
the period of 6 months after the end of the immediately preceding financial year of that body; or
(b) in relation to a set of consolidated accounts of:
(i) a borrowing corporation; and
(ii) each guarantor body referred to in paragraph 1058 (6) (b) of the Corporations Law for a period of 6 months after the end of a financial year of the borrowing corporation;
the period of 6 months after the end of the immediately preceding financial year of that corporation or body; or
(c) in relation to the accounts of any other corporation for a financial period — the immediately preceding financial period.
controlled entity means an entity that is under the control of a chief entity.
current assets means, in relation to:
(a) a corporation — cash or other assets of the corporation that would, in the ordinary course of business of the corporation, be consumed or converted into cash within 12 months after the end of the last financial period of that corporation; or
(b) an economic entity — cash or other assets of each entity that would, in the entity’s ordinary course of business, be consumed or converted into cash within 12 months after the end of the entity’s last financial period.
current liabilities means, in relation to:
(a) a corporation — liabilities of the corporation that would in the ordinary course of business of the corporation be due and payable within 12 months after the end of the last financial period of the corporation; or
(b) an economic entity — liabilities of each entity that would, in the ordinary course of the entity’s business, be due and payable within 12 months after the end of the entity’s last financial period.
director’s valuation means, in relation to the assets of a company or a controlled entity, a valuation that is not an independent valuation.
financial period means, in relation to:
(a) the accounts of:
(i) a corporation referred to in paragraph 1058 (5) (b) of the Corporations Law; or
(ii) if that body is a chief entity — the consolidated accounts prepared in accordance with that paragraph;
the period of 6 months after the end of the financial year of that body; and
(b) a set of consolidated accounts of:
(i) a borrowing corporation; and
(ii) each guarantor body referred to in paragraph 1058 (6) (b) of the Corporations Law;
the period of 6 months after the end of the financial year of the borrowing corporation or body; and
(c) the consolidated accounts of a chief entity:
(i) if the financial period of a controlled entity does not end on the date on which the financial period of the chief entity ends — the financial period of the chief entity; and
(ii) in any other case — the financial period of each controlled entity that does not end on that date; and
(d) the accounts or consolidated accounts of any other company — a financial year of the company.
independent valuation means, in relation to a valuation of assets of a company or a controlled entity, a valuation made by a person:
(a) who is an expert in relation to valuations of that type; and
(b) whose pecuniary or other interests could not reasonably be regarded as being capable of affecting the person’s ability to give an unbiased opinion in relation to that valuation.
information includes particulars, an amount, or both.
interest includes discount on bills of exchange.
profit and loss account does not include the notes to a profit and loss account.
remuneration means any money, consideration or benefit but does not include, in relation to:
(a) a person who is a director or executive officer of a corporation — amounts in payment or reimbursement of out‑of‑pocket expenses incurred for the benefit of the corporation or any related body corporate; or
(b) a person not resident in Australia who is a director of a corporation — emoluments:
(i) received; or
(ii) due and receivable;
by the person from a holding company:
(iii) of which he or she is a director or employee; and
(iv) that is a corporation formed or incorporated outside Australia;
being emoluments received, or due and receivable, by the person as director or employee.
right or interest, in relation to a business undertaking, means a right to participate, or any interest, in any profits, assets or realisation of the undertaking, whether or not that right or interest:
(a) is enforceable; or
(b) is evidenced by a formal document; or
(c) relates to a physical asset.
specified stock exchange means:
(a) Australian Stock Exchange Limited; or
(b) American Stock Exchange Inc.; or
(c) New York Stock Exchange Inc.; or
(d) New Zealand Stock Exchange; or
(e) Pacific Coast Stock Exchange; or
(f) The International Stock Exchange of the United Kingdom and the Republic of Ireland Limited; or
(g) The Johannesburg Stock Exchange; or
(h) The Mid-West Stock Exchange; or
(i) The Montreal Exchange; or
(j) The Paris Bourse; or
(k) The Toronto Stock Exchange.
the accounts means the accounts of a company but does not include the consolidated accounts if the company is a chief entity.
the profit or loss means, in relation to:
(a) a company — the operating profit or loss and extraordinary items of the company after providing for income tax; or
(b) an economic entity — the operating profit or loss and extraordinary items attributable to members of the chief entity after providing for income tax.
(2) In this Schedule, unless the contrary intention appears:
(a) a reference to a requirement is a reference to a requirement of this Schedule; and
(b) a reference to a class of assets or liabilities of a company or economic entity is a reference to:
(i) a class of assets or liabilities; and
(ii) any other assets or liabilities;
that share a common nature and function in the business of that company or economic entity referred to in a subparagraph in clause 13; and
(c) a reference to the assets, liabilities, share capital or reserves of an economic entity or to the provisions made by the economic entity is a reference to the assets, liabilities, share capital or reserves of each entity in the economic entity or to the provisions made by each entity respectively; and
(d) a reference to cash as a current asset includes a reference to money held at call with a bank or financial institution.
(3) In this Schedule, unless the contrary intention appears, the following entities are related entities:
(a) if an entity is the chief entity of another entity — the entity and the other entity;
(b) if an entity is under the control of a chief entity — the entity and the chief entity;
(c) if an entity is under the control of the chief entity of another entity:
(i) the entity and the chief entity; and
(ii) the entity and the last-mentioned entity.
(3A) Unless the contrary intention appears, a word or expression (except a word or expression that is defined in subclause (1) or to which subclause (2) or (3) applies) that is used in this Schedule has the same meaning as in the Corporations Law as in force immediately before the commencement of item 29 in Schedule 3 to the Company Law Review Act 1998.
(3B) Unless the contrary intention appears, a reference to a provision of the Corporations Law is a reference in this Schedule to the provision of the Law as in force immediately before the commencement of item 29 in Schedule 3 to the Company Law Review Act 1998.
(4) Unless the contrary intention appears in accounts or consolidated accounts, an expression used in those accounts or consolidated accounts has the same meaning as in this Schedule.