Hancock, as well as subsidiaries Hancock Minerals and Hope Downs Iron Ore, appeared in the Perth Magistrates Court to face 13 counts of breaching Section 319 of the Corporations Act 2001.

Section 319 states that a company must lodge its annual financial reports within four months of the end of the relevant financial year.

The Australian Securities & Investments Commission said Hancock Prospecting failed to lodge reports in 2010, 2011 and 2012, while Hancock Minerals and Hope Downs Iron Ore never lodged reports from 2008-2012.

The maximum penalty for each offence is $A13,750.

The case was adjourned to Perth Magistrates Court for mention on May 14.