Rinehart company fails to file accounts

Private companies are required by law to file annual reports within four months of June 30, the end of the financial year.

One annual report was submitted by Hancock Prospecting days after the deadline had passed. The company's lawyer, Mr Neil Williams SC, told the court it had been contesting whether accounts needed to be lodged at all during the period in question.

He said the companies would not have breached their financial obligations in that time if ASIC had suspended its requirements until the matter was resolved. While a guilty plea was put forward by the companies, the court was unable to accept it because the plea was not in writing. Please try again later. The Sydney Morning Herald. By Peter Ker April 5, — Save Log in , register or subscribe to save articles for later. Under the disclosure requirements of the Corporations Act, a company is required to lodge annual accounts within four months of the end of the financial year.

Its chairman, Greg Medcraft, was unavailable. Jeffrey Knapp, the accounting academic at the University of NSW who brought to light the failure of the collapsed airline Ansett to produce audited accounts for eight. The Hope Margaret Hancock Trust — subject of a bitter public dispute — holds a The trust receives dividends from the company, some of which are distributed to the children.

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