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In relation to financial reporting deadlines ASIC has announced that it will extend the deadline for both listed and unlisted entities to lodge financial reports by one month for balance dates from 23 June 2021 to 7 July 2021. This builds on previous guidance issued in 2020 for balance dates up to and including 7 January 2021.

This recent announcement does not change the ASIC announcement in March 2021 in relation to ‘no-action’ relief in relation to AGMs.

Current state of play

In 2020 ASIC announced measures for both listed and unlisted entities to extend the deadline to lodge financial reports under the Corporations Act 2001 (Corps Act) by one-month for balance dates up to and including 7 January 2021. This relief remains in place.

The ASIC relief does not apply to registered foreign companies.

In an April 2021 media release ASIC announced a limited extension of the above relief for entities with financial years that end from 23 June 2021 to 7 July 2021.

The following table shows the current state of play:

Entities reporting to ASIC
  Listed entities Unlisted disclosing entities and unlisted registered schemes Other unlisted entities
Balance dates up to 07/01/2021 1 month extension1
(ie 3 mths to 4 mths)
1 month extension2
(ie 3 mths to 4 mths)
1 month extension2
(ie 4 mths to 5 mths)
Balance dates between 08/01/2021 and 22/06/2021 No extension relief available No extension relief available No extension relief available
Balance dates between 23/06/2021 and 07/07/2021 1 month extension
(ie 3 mths to 4 mths)
1 month extension
(ie 3 mths to 4 mths)
1 month extension
(ie 4 mths to 5 mths)
Balance dates after 07/07/2021 Not currently intending to extend Not currently intending to extend Not currently intending to extend
  1. Entities with balance dates before 21 February 2020 will not receive the one month extension.
  2. Entities with balance dates before 31 December 2019 will not receive the one month extension.

In all other cases, entities may apply for individual relief with ASIC for extending a financial reporting deadline – should a further extension be needed.

Before taking the one month extension offered, entities should consider other contractual obligations which may require financial statements to be made available. For example, borrowing covenants which require the financial report by a prescribed deadline.

Michael Voogt
Director, Department of Professional Practice

In March 2021 ASIC announced further ‘no-action’ relief in relation to AGMs. The recent ASIC announcement makes no change to this guidance. This relief:

  • facilitates the use of electronic notices to convene a general meeting
  • supports the holding of meetings using appropriate virtual technology
  • extends the two-month deferral of AGMs for financial years up to
    7 July 2021.

This ‘no-action’ relief will remain up until the earlier of 31 October 2021 or the date further legislative measures are passed by Parliament.



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