ASIC Reporting Relief

ASIC Reporting Relief

 On 16 June 2016, ASIC granted the following relief:

 (a)    In accordance with section 340(1) of the Corporations Act (Act), Pasminco Limited(subject to deed of company arrangement) ACN 004 368 674 (Pasminco Limited) and Pasminco Finance Limited(subject to deed of company arrangement) ACN 007 289 269 (Pasminco Finance) is exempted from compliance with the financial reporting obligations under Part 2M.3 of the Act.   Provided certain conditions set out in the relief instrument are complied with, the instrument ceases to apply to Pasminco Limited and Pasminco Finance on the date that is the earlier of 16 June 2018 and the date the relevant company ceases to be under external administration; and

 (b)    In accordance with section 250PAB(4), Pasminco Limited is exempted from compliance with the obligation to hold an annual general meeting under section 250 of the Act.  Provided certain conditions set out in the relief instrument are complied with, the instrument ceases to apply to Pasminco Limited on the date that is the earlier of 16 August 2018 and 2 months after the date of termination of the deed of company arrangement.

 A copy of both instruments of relief can be found below.

  • Relief from financial reporting obligations expiring on 16 June 2018 here.
  • Relief from holding an AGM expiring on 16 August 2018 here.
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