- April 12, 2019
- Posted by: admin
- Category: Uncategorized
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.
As a registered liquidator, you can apply to access the registered liquidators portal to lodge documents and notices online. You can also use our liquidator assistance program if company officers fail to hand over books and records or submit reports as to affairs.
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 a supplementary s533 report.