It can't be insider trading, its not listed. BUT public companies do have reporting obligations. extract from ASIC
" A disclosing entity that is not foreign incorporated or formed outside Australia must prepare both:
- annual financial reports
- half-yearly financial reports.
Disclosing entities that must prepare a financial report may also have to prepare a sustainability report. For more information, seeWho must prepare a sustainability report?
Annual reports
Unless the entity is not a disclosing entity when lodgement is due (seeASIC Corporations (Disclosing Entities) Instrument 2016/190), annual reports must be:
- prepared in accordance with Chapter 2M of the Corporations Act
- audited
- lodged with ASIC within three months of the financial year end
- sent to members by the earlier of four months after the financial year end or 21 days before the next AGM (three months if a registered scheme)."
a public unlisted company fails to lodge required documents (e.g., financial reports, annual statements) or fails to call an Annual General Meeting (AGM), there can be significant penalties and regulatory consequences under the Corporations Act 2001 (Cth) and enforced by ASIC (Australian Securities and Investments Commission).
Failure to Lodge Documents (e.g., Financial Reports)
Legal Requirement:
A public company must lodge:
Penalties:
Late Fees (Administrative):
Civil Penalties:
ASIC may initiate civil proceedings for persistent or serious breaches.
Criminal Penalties (for serious failures):
Failure to Call an AGM
Legal Requirement:
Under s250N of the Corporations Act, public companies must:
Penalties:
