Your ongoing obligations as a registered liquidator
As a registered liquidator, you must comply with ongoing statutory obligations
You must on an ongoing basis perform adequately and properly the duties and functions of a registered liquidator, remain a fit and proper person to be registered, not become a disqualified person, not become an insolvent under administration and remain resident in Australia.
You also have specific obligations relating to:
- reporting matters and lodging documents (including annual statements)
- financial reporting and annual general meetings
- lodging unclaimed money with ASIC, and
- maintaining adequate and appropriate professional indemnity and fidelity insurance cover.
This is not an exhaustive list of your obligations. You must comply with the Corporations Act 2001.
Depending on your circumstances, you may be eligible for class order relief or individual relief for some obligations. For example, relief is available for some externally-administered companies from financial reporting obligations and having to hold an annual general meeting.
If you are appointed in a creditors’ voluntary or court-ordered winding up, you can seek funding from the Assetless Administration Fund to carry out an investigation and prepare an insolvency supplementary report.
Changes to how registered liquidators lodge forms with ASIC
Effective 30 March 2020, registered liquidators ?are required to lodge statutory reports prepared under sections 422, 438D and 533 of the Corporations Act 2001 via the ASIC Regulatory Portal.?
There are also new transactions on the Regulatory Portal enabling registered liquidators to request ASIC's assistance in an external administration to obtain the company books and records, and to provide notice they do not intend to supply a supplementary report.?
The Regulatory Portal replaced the previous lodgement channels, including the current Liquidator Portal. More information about this change is on our website.
- RG 186 External administration: Liquidator registration
- Regulatory resources for registered liquidators
- Changing or cancelling your liquidator registration
- Registered liquidator transactions on the ASIC Regulatory Portal
- RG 174 Externally administered Companies: Financial reporting and AGMs
- External administration, controller appointments and schemes of arrangement - most commonly lodged forms
- Your annual industry funding levy