Part 11
Accounting records and financial reporting
Financial reporting:
Preparation of financial statements
200Application of preparation provisions
Sections 201 and 202 apply to—
- every large company; and
- every company that is a public entity; and
- every large overseas company; and
- every other company with 10 or more shareholders unless the company has opted out of compliance with the provision in accordance with section 207I; and
- every other company with fewer than 10 shareholders if the company has opted into compliance with the provision in accordance with section 207K.
However, section 201 does not apply to a company or an overseas company in relation to a balance date if the company or overseas company has, on that date, 1 or more subsidiaries (see section 202).
Further, section 201 does not apply to a company or an overseas company (A) in relation to a balance date if,—
- on the balance date, A has no subsidiaries but is a subsidiary of a body corporate (B) that is—
- incorporated in New Zealand; or
- registered or deemed to be registered under Part 18; and
- incorporated in New Zealand; or
- group financial statements in relation to a group comprising B, A, and all other subsidiaries of B that comply with generally accepted accounting practice are completed in relation to the balance date under this Act or any other enactment; and
- A has not opted into compliance with section 201 as referred to in subsection (1)(e).
Notes
- Section 200: replaced, on , by section 30 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
- Section 200(3): inserted, on , by section 20 of the Regulatory Systems (Commercial Matters) Amendment Act 2017 (2017 No 12).