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Straightforward guidance across a range of topics
- Insolvency
- Winding up
Deregistration
Deregistration of a company in liquidation is usually effected by ASIC:
- • automatically on the making of a court order directing it, with or without an order for the release of the liquidator, in a court winding up;
- • on the expiration of 3 months after lodgment of the report of the final meeting in a voluntary winding up; or
- • on application by the liquidator to ASIC on the grounds that the company’s affairs have been fully wound up and there are insufficient funds to pay for an application for a court order for deregistration.
Deregistration puts an end to the company’s existence, and any remaining assets vest in ASIC. The company’s registration can be reinstated by ASIC for administrative irregularity, or by the court on the application of an aggrieved person. This is not necessary when pursuing an insurer of the company, which may be sued direct.
See Deregistration.