26. August 2010 14:23
ASIC has released a new class order, CO 10/545. This class order amends CO 98/1417 Audit relief for proprietary companies.
The new terms of the principal class order are intended to reduce the administrative burden on companies relying on the relief associated with the requirement to lodge forms with ASIC every year. Companies will now only need to lodge Form 382 for the first year in which they claim the relief, rather than for each consecutive year in which the relief is claimed.
The class order commences today, on the date of its registration on FRLI.
Edited to add: the changes are also detailed at paragraphs 30–45 of ASIC Regulatory Guide 115 Audit relief for proprietary companies.