11Exemptions from requirements in this rule

11 Exemptions from requirements in this rule

Guide to this section

The purpose of this section is to set out how reporting entities may be granted an exemption from specific requirements within this rule when producing their financial statements and what requirements go with any exemption.

(1) The Finance Minister may grant a written exemption to the accountable authority, from any specified requirements of this rule. (2) An exemption must not be applied if it results in non‑compliance with AAS. (3) An exemption may be granted subject to conditions, including a requirement for alternative forms of disclosure. (5) Where a reporting entity elects to apply any exemptions granted by the Finance Minister, information that would otherwise be reported must be available for consolidation into the Australian Government consolidated financial statements.