ob体育 has made . The instrument continues the relief previously provided under , which was subject to sunsetting on 1 October 2023.聽
Under the Legislation Act 2003, legislative instruments cease automatically, or 鈥榮unset鈥�, after 10 years, unless they are remade before the sunset date. The purpose of sunsetting is to ensure that instruments are kept up to date and only remain in force while they are fit for purpose, necessary and relevant.
We have assessed that ob体育 Class Order [CO 13/1050] Financial reporting by stapled entities is operating effectively and efficiently, and continues to form a necessary and useful part of the legislative framework.
Background
ob体育 Corporations (Financial Reporting by Stapled Entities) Instrument 2023/673 provides relief to allow stapled entities which are disclosing entities to present combined financial statements or consolidated financial statements of the stapled group. It also allows the stapled entities in a stapled group to present their respective financial statements together in a single financial report.
ob体育 is Australia鈥檚 corporate, markets and financial services regulator.