Genesis Care Pty Limited (Genesis Care) and certain of its wholly-owned subsidiaries have been granted relief by the Australian Securities and Investments Commission (ASIC) in respect of the preparation and lodgement of the financial report and directors’ report for the financial year ended 30 June 2023.
In relation to Genesis Care, the relief applies until the earliest to occur of:
- 31 March 2024;
- the date on which a disclosure document is lodged with ASIC in relation to any offer for issue or sale of securities that needs disclosure to investors under Chapter 6D of the Corporations Act 2001 (Cth) (Corporations Act); and
- one month after the date that the Genesis Care group’s voluntary financial restructuring under Chapter 11 of the United States Bankruptcy Code has been completed.
In relation to the relevant subsidiaries, the relief applies as though those subsidiaries were entitled to relief under ASIC Corporations (Wholly-owned Companies) Instrument 2016/785.
Relief is granted to Genesis Care and the relevant subsidiaries in respect of the following requirements under the Corporations Act:
- the requirement to prepare a financial report and directors’ report under paragraph 292(1)(c);
- the requirement to have the financial report audited and obtain an auditor’s report under subsection 301(1);
- the requirement to report to its members under section 314 within the time required by section 315;
- the requirement to send reports to a member of the Company in accordance with a request under subsection 316(1) within the time required by subsection 316(2); and
- the requirement to lodge the reports prepared or obtained under Division 1 of Part 2M.3 with ASIC under subsection 319(1) within the time required by subsection 319(3).
The relevant subsidiaries that have been granted ASIC relief are:
- Adelaide Radiotherapy Centre Pty Ltd ACN 008 128 845;
- Genesis Cancer Care Qld Pty Limited ACN 010 830 583;
- Genesis Cancer Care WA Pty Limited ACN 150 562 913;
- Radiation Oncology Associates Pty Limited ACN 057 705 441;
- Genesis Cancer Care Victoria Pty Ltd ACN 152 415 373;
- Genesis Care Finance Pty Ltd ACN 137 193 125;
- Genesis Specialist Care Pty Ltd ACN 111 943 161; and
- Genesis Cancer Care Pty Ltd ACN 155 449 200.