Important notices

19 March 2024

NOTICE OF ASIC RELIEF GRANTED TO ALBERT AUTOMOTIVE HOLDINGS PTY LTD (DUTTON)

Pursuant to an application made by Albert Automotive Holdings Pty Ltd ACN 616 126 722 (Dutton) to the Australian Securities and Investments Commission (ASIC) for relief under section 340 of the Corporations Act 2001 (Cth) (the Act), ASIC has issued Instrument 24-0067 dated 19 March 2024 (Instrument).  Broadly speaking, the effect of the Instrument is to exempt Dutton from compliance from requirements of Part 2M.3 of the Act to the extent necessary to enable Dutton to synchronise its financial years with the financial years of its ultimate holding company Sojitz Corporation.  The exemption is subject to Dutton complying with certain conditions set out in the Instrument. 

A copy of the ASIC Instrument is available here: Click here to open document

The financial year of Sojitz Corporation ends on 31 March 2024. Dutton is relying on the Instrument to synchronise its financial year with the financial year of Sojitz Corporation and, to effect this synchronisation, shortened its financial year commencing from 15 May 2023 so that it ends on 31 March 2024.  Each subsequent financial year of Dutton will, subject to section 323D of the Act, commence on 1 April and be 12 months long.