Commonwealth Consolidated Acts Commonwealth Consolidated ActsWho may apply for deregistration
(1) 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.
Circumstances in which application can be made
(2) 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 Act; and
(e) the company has no outstanding liabilities; and
(f) the company is not a party to any legal proceedings.
ASIC may ask for information about officers
(3) The applicant must give ASIC any information that ASIC requests about the current and former officers of the company.
Deregistration procedure
(4) If:
(a) ASIC decides to deregister the company under this section; and
(b) ASIC is not aware of any failure to comply with subsections (1) to (3);
ASIC must:
(c) give notice of the proposed deregistration on ASIC database; and
(d) publish notice of the proposed deregistration in the prescribed manner.
(4A) When 2 months have passed since the publication of the notice under paragraph (4)(d), ASIC may deregister the company.
(5) ASIC must give notice of the deregistration to:
(a) the applicant; or
(b) the person nominated in the application to be given the notice.
(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.
(7) Subsection (6) does not limit ASIC's power to refuse to deregister the company.