Act of Parliament A.P. 06-019 | Statutory Harmonisation of Reporting and Enforcement in Companies Act

1 - About this Act
(1) This Act

2 - Definitions
(1) “Publicly traded corporation” shall mean a corporation as defined by the Legal Entity Act whose shares are offered for purchase by members of the general public.
(2) “Publicly available” shall mean freely accessible, without payment or special authorization, to any verified user of the StateCraft Discord server or any other Discord server accessible through the StateCraft Discord server.
(3) “Publish” shall mean making a document publicly available in a location designated by the relevant governmental authority under the Ministry of Trade and Finance for the purposes of this Act.
(3) “Reporting period” shall mean the period of time for which a financial statement is required to include all relevant events that happen within it.
(4) “Monthly reporting period” shall mean a calendar month, beginning on the first day of a calendar month and ending on the last day of that calendar month.
(5) “Two-monthly reporting period” shall mean a period of two consecutive calendar months, beginning on the first day of the first calendar month and ending on the last day of the second calendar month.
(6) “Applicable reporting period” shall mean the reporting period applicable to an entity based on the frequency of reporting prescribed for that entity under this Act.
(7) “Financial statement” shall mean a document presenting the financial position and financial performance of an entity for a specified reporting period, containing at minimum the information required under this Act.

3 - Mandatory Reporting
(1) All financial institutions and non-profits, defined under the Legal Entity Act, shall publish a financial statement for each monthly reporting period.
(2) All publicly traded corporations shall publish a financial statement for each two-month reporting period.
(3) A financial statement shall include, in any reasonable form, the following information for the applicable reporting period:
(4) A financial statement shall be published no later than 14 days after the end of the applicable reporting period
(5) Publicly traded corporations and financial institutions shall make publicly available any details regarding any event reasonably expected to materially affect, in a significant way, the ownership, financial position, or continued operation of an entity which includes the following:
(6) Information required to be published under subsection (5) shall be published no later than 7 days following the date on which the significant business move is formally initiated.
(7) Nothing in this section shall prevent an entity from publishing financial statements or disclosures more frequently than required by this Act.

4 - Amendment to the Criminal Code Act
(1) Section 10 - Offenses Against the State and Public Order shall be amended in the following manner and any subsequent subsections renumbered accordingly:
“(9) Corporate Reporting Noncompliance - A player is guilty of corporate reporting noncompliance if they fail to comply or a company that they manage fails to comply with a reporting or disclosure requirement imposed by the SHREC Act, including by failing to report within the prescribed period or submitting information that is inaccurate or incomplete.
(10) Peace Officer Misconduct [...]”

5 - Severability
(1) The provisions of this act are severable. Should one part of it be declared unconstitutional, it shall not affect the parts which remain.