Section 135 - Signing and publication of financial statements

(1) A company shall not issue, publish or circulate a copy of the financial statements unless

(a) the company attaches to the financial statements, reports of the directors and auditors respectively, as required under sections 136 and 137, and

(b) the financial statements have been approved by the board of directors and, after that approval, signed by two directors on behalf of the board.

(2) Subsection (1) does not prohibit the publication of

(a) a fair and accurate summary of the financial statements and report of the auditors on the financial statements after the financial statements have been approved, and signed on behalf of the board of directors; and

(b) a fair and accurate summary of the profit or loss and other comprehensive income statements for part of the financial year of the company.

(3) In the event of a breach of subsection (1), the company and every officer of the company that is in default is liable to pay to the Registrar an administrative penalty of one hundred and fifty penalty units.