Corporations Act 2001
Note 1: This Part applies to the deregistration of CCIVs with modifications: see Subdivision A of Division 9 of Part 8B.6 .
Note 2: For the deregistration of sub-funds of CCIVs, see Subdivision A of Division 9 of Part 8B.6 .
View history note
Hide history note[ CCH Note: S 601AB heading will be substituted by No 69 of 2020, s 3, Sch 1[813] (effective 1 July 2026 or a day or days to be fixed by Proclamation). The heading will read:
SECTION 601AB DEREGISTRATION - INITIATED BY THE REGISTRAR ]
Circumstances in which ASIC may deregister
601AB(1)
ASIC may decide to deregister a company if: (a) the response to a return of particulars given to the company is at least 6 months late; and (b) the company has not lodged any other documents under this Act in the last 18 months; and (c) ASIC has no reason to believe that the company is carrying on business.
[ CCH Note: S 601AB(1) will be amended by No 69 of 2020, s 3, Sch 1[814] - [ 817], by substituting " the Registrar " for " ASIC " in the heading, substituting " The Registrar may " for " ASIC may " , inserting " with ASIC or the Registrar " after " documents " in para (b) and substituting " the Registrar " for " ASIC " in para (c) (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
601AB(1A)
ASIC may also decide to deregister a company if the company ' s review fee in respect of a review date has not been paid in full at least 12 months after the due date for payment.
[ CCH Note: S 601AB(1A) will be amended by No 69 of 2020, s 3, Sch 1[818], by substituting " The Registrar " for " ASIC " , (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
601AB(1B)
ASIC may also decide to deregister a company if: (a) the company is liable to pay levy imposed by the ASIC Supervisory Cost Recovery Levy Act 2017 ; and (b) the company has not paid in full at least 12 months after the due date for payment:
(i) the amount of the levy; and
(ii) the amount of any late payment penalty payable in relation to the levy; and
(iii) the amount of any shortfall penalty payable in relation to the levy.
[ CCH Note: S 601AB(1B) will be amended by No 69 of 2020, s 3, Sch 1[818], by substituting " The Registrar " for " ASIC " , (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
601AB(1C)
ASIC may also decide to deregister a company if the company is liable to pay an instalment of levy (within the meaning of the Financial Services Compensation Scheme of Last Resort Levy (Collection) Act 2023 ) and the company has not paid in full at least 12 months after the due date for payment: (a) the amount of the instalment of levy; and (b) the amount of any late payment penalty payable in relation to the instalment of levy; and (c) the amount of any shortfall penalty payable in relation to the instalment of levy.
601AB(2)
ASIC may also decide to deregister a company if the company is being wound up and ASIC has reason to believe that: (a) the liquidator is no longer acting; or (b) the company ' s affairs have been fully wound up and a return that the liquidator should have lodged is at least 6 months late; or (c) the company ' s affairs have been fully wound up under Part 5.4 and the company has no property or not enough property to cover the costs of obtaining a Court order for the company ' s deregistration.
[ CCH Note: S 601AB(2) will be amended by No 69 of 2020, s 3, Sch 1[819] - [ 821], by substituting " The Registrar " for " ASIC " (first occurring) and " the Registrar " for " ASIC " (second occurring) and inserting " with ASIC or the Registrar " after " lodged " in para (b) (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
Deregistration procedure
601AB(3)
If ASIC decides to deregister a company under this section, it must: (a) give notice of the proposed deregistration:
(i) to the company; and
(ii) to the company ' s liquidator (if any); and
(iii) to the company ' s directors; and
(b) publish notice of the proposed deregistration in the prescribed manner.
(iv) on ASIC database; and
[ CCH Note: S 601AB(3) will be amended by No 69 of 2020, s 3, Sch 1[822] - [ 826], by substituting " the Registrar " for " ASIC " (first occurring), substituting " the Registrar must " for " it must " , repealing para (a)(iv), inserting para (ab) after para (a) and omitting " in the prescribed manner " in para (b) (effective 1 July 2026 or a day or days to be fixed by Proclamation). Para (ab) will read:
(ab) make a record of the proposed deregistration; and]
601AB(3A)
When 2 months have passed since the publication of the notice under paragraph (3)(b) , ASIC may deregister the company.
[ CCH Note: S 601AB(3A) will be amended by No 69 of 2020, s 3, Sch 1[827], by substituting " the Registrar " for " ASIC " , (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
601AB(4)
ASIC does not have to give a person notice under paragraph (3)(a) if ASIC does not have the necessary information about the person ' s identity or address.
[ CCH Note: S 601AB(4) will be amended by No 69 of 2020, s 3, Sch 1[828] and [ 829], by substituting " The Registrar " for " ASIC " (first occurring) and " the Registrar " for " ASIC " (second occurring) (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
601AB(5)
ASIC must give notice of the deregistration to everyone who was notified of the proposed deregistration under subparagraph (3)(a)(ii) or (iii) .
[ CCH Note: S 601AB(5) will be amended by No 69 of 2020, s 3, Sch 1[830], by substituting " The Registrar " for " ASIC " , (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
[ CCH Note: S 601AB(5A) will be inserted by No 69 of 2020, s 3, Sch 1[831] (effective 1 July 2026 or a day or days to be fixed by Proclamation). S 601AB(5A) will read:
601AB(5A)
The Registrar must refuse to deregister a company under this section if ASIC notifies the Registrar that ASIC objects to the deregistration.]
601AB(6)
ASIC may refuse to deregister a company under this section if ASIC decides to order under section 489EA that the company be wound up.
[ CCH Note: S 601AB(6) will be amended by No 69 of 2020, s 3, Sch 1[832], by substituting " The Registrar " for " ASIC " (first occurring) (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
601AB(7)
Subsection (6) does not limit ASIC ' s power to refuse to deregister the company.
[ CCH Note: S 601AB(7) will be amended by No 69 of 2020, s 3, Sch 1[833] and [ 834], by substituting " Subsections (5A) and (6) do " for " Subsection (6) does " and " the Registrar ' s " for " ASIC ' s " , (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
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