Can a company get relief under an ASIC class order if it meets most, but not all of the conditions?
No. The conditions under ASIC class orders complement each other and should not be regarded as substitutes. The conditions are part of a package and are included after careful consideration by ASIC. A company is only entitled to rely on a class order if it fully meets all of the conditions for relief. For example, failure to meet a timing requirement contained in a class order would mean that a company does not qualify for relief under the order.
Related Questions
- Does a wholly-owned entity qualify for class order relief from financial reporting requirements if the company or its entity has failed to lodge financial statements for one to three years prior?
- When should a proprietary company that does not meet the requirements for audit relief under ASIC Class Order 98/1417 apply for individual relief?
- Can a company get relief under an ASIC class order if it meets most, but not all of the conditions?
