THE CORPORATIONS LAW

CHAPTER 5A - DEREGISTRATION OF COMPANIES

SECTION 601AA   DEREGISTRATION - VOLUNTARY  

601AA(1)  Who may apply for deregistration.  

An application to deregister a company may be lodged with ASIC by:

(a)  the company; or

(b)  a director or member of the company; or

(c)  a liquidator of the company.

If the company lodges the application, it must nominate a person to be given notice of the deregistration.

601AA(2)  Circumstances in which application can be made.  

A person may apply only if:

(a)  all the members of the company agree to the deregistration; and

(b)  the company is not carrying on business; and

(c)  the company's assets are worth less than $1,000; and

(d)  the company has paid all fees and penalties payable under this Law; and

(e)  the company has no outstanding liabilities; and

(f)  the company is not a party to any legal proceedings.

601AA(3)  ASIC may ask for information about officers.  

The applicant must give ASIC any information that ASIC requests about the current and former officers of the company.

601AA(4)  Deregistration procedure.  

If ASIC is not aware of any failure to comply with subsections (1) to (3), it must give notice of the proposed deregistration:

(a)  on ASIC database; and

(b)  in the Gazette.

When 2 months have passed since the Gazette notice, ASIC may deregister the company.

601AA(5)  [ASIC must give notice]  

ASIC must give notice of the deregistration to:

(a)  the applicant; or

(b)  the person nominated in the application to be given the notice.