The Australian Securities and Investment Commission (ASIC) seeks industry feedback on its proposal to extend financial reporting and annual general meeting (AGM) relief in order to reduce the regulatory burden for externally administered companies.
ASIC has proposed expanding the relief available under the ASIC Corporations (Externally-Administered Bodies) Instrument 2015/251 (LI 2015/251) to companies where a voluntary administrator, controller, or provisional liquidator is first appointed by:
- Extending the deferral of financial reporting obligations for the external administration period to a maximum of 24 months; and
- Allowing public companies to defer their obligation to hold an AGM until two months after the financial reporting…
Read the full article at: https://www.insurancebusinessmag.com/au/news/breaking-news/asic-consults-on-extending-financial-reporting-and-agm-relief-244867.aspx