13FCompany to report on progress

13F Company to report on progress

[Section 13F Inserted by No. 18 of 2025, s. 60, Applied:01 Jan 2026]

(1)  Before 28 February in each financial year, the board of directors must –

(a) prepare a report on the performance of the Company, and its subsidiaries, for the first 6 months of the financial year; and

(b) give a copy of the report to the members.

(2)  A report prepared under subsection (1) is to be in a form and contain the information specified in the Treasurer’s Instructions.

(3)  Within 7 days after giving a copy of a report to the members under subsection (1) , the board of directors must publish a copy of the report on a website maintained by, or on behalf of, the Company so that it is freely available to members of the public.

(4)  Despite subsection (3) , the board of directors may omit a part of a report prepared under subsection (1) before publishing the report under subsection (3) if the board of directors is of the opinion that publishing the report, without omitting that part, may –

(a) disadvantage or cause damage to the Company or its subsidiaries, whether directly or indirectly; or

(b) enable another person, whether directly or indirectly, to gain an unreasonable advantage; or

(c) constitute a breach of confidentiality; or

(d) prejudice an investigation into –

(i) misconduct or possible misconduct; or

(ii) an offence, or possible offence, against this Act.

(5)  If the board of directors does not publish part of a report under subsection (3) , for a reason specified in subsection (4) , the board must include, with the report published in accordance with subsection (3) , a statement that part of the report has been omitted under this section before being so published.