389 Opt-in/change of holding entity notice by wholly-owned company relieved from financial reporting obligations

Form 389      
Description Opt–in/change of holding entity notice by wholly–owned company relieved from financial reporting obligations
Purpose

Form 389 is to be prepared by companies that obtain relief from preparing and lodging an audited financial report with ASIC pursuant to ASIC Corporations (Wholly-owned Companies) Instrument 2016/785.

Conditions of the instrument include a requirement that the company be wholly-owned by another company and enters into a deed of cross–guarantee with that company.

Form 389 needs to be lodged if :
(a) the company did not take advantage of relief available under ASIC Corporations (Wholly-owned Companies) Instrument 2016/785 in the immediately preceding year, or

(b) the company’s holding entity changes.

Refer to the instrument for the full requirements for relief.

Applicable Fees No fee
Lodging Period Any time up to 4 months after the end of the first finanical year relief applies Late Fees Not applicable
Legislation References

Corporations Act 2001\341

ASIC Corporations (Wholly-owned Companies) Instrument 2016/785

Related Forms Related Information
Online Lodgement Not applicable Paper Lodgement

Download Form 389 (PDF 146 KB)
last updated: 28/09/2016

Address for lodgement Generally, forms should be posted to:
    Australian Securities and Investments Commission
    PO Box 4000
    Gippsland Mail Centre VIC 3841

More information on how to lodge paper company forms

To allow suitable time for the delivery of your documents, we recommend you check Australia Post delivery times. Late fees may apply if a document is not received by us within the required timeframe.

 

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Last updated: 30/03/2021 09:22