Cancelling your AFS licence and getting your security bond back
Cancelling your licence
Getting your security bond back
Cancelling your licence
If you no longer need your AFS licence, you can ask us to cancel it.
To cancel your licence, send us a letter clearly stating:
- your licence number;
- that you want us to cancel your AFS licence;
- that you will cease to carry out any financial services business of a kind that requires an AFS licence;
- the date you will cease to carry out the financial services business; and
- your reason for ceasing your financial services business.
A fee of $33 is payable and should be mailed with your application to.
Australian Securities and Investments Commission
FSR Licensing
GPO Box 9827
Melbourne Vic 3001
What happens after we receive your application?
We will send you a letter when we have cancelled your licence and publish a notice of the cancellation in the ASIC Gazette.
Outstanding financial statements and auditors reports
Even though you have asked for the licence to be cancelled, you must still lodge financial statements and auditors reports (forms FS70 and FS71) for any financial year that ends before the date the licence is cancelled. We will not cancel your licence if you have not lodged these documents.
Getting your security bond back
If you want your security bond released, you must:
| 1. | Publish a notice in a daily newspaper of general circulation in Australia (eg the Financial Review or Australian), as required by the Regulations. The notice must follow the wording of form 702 but replacing, in point 1, the words 'dealers/investment advisors licence' with the words 'Australian financial services licence'. |
| 2. | Three months after publication, lodge with us:
- a copy of form FS20 (see the guide attached to the form for the current fee and lodgement address);
- an original or photocopy of the newspaper advertisement, clearly showing the date of publication; and
- a statement that to the best of your knowledge, no person has, or is likely to have, a claim against the licensee for pecuniary loss due to the failure of the licensee, or an agent or employee, to carry on business under the licence adequately or properly.
|
We will release the security bond 3 months after publication of the notice, if there have not been any claims made against it.
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ASIC Website: Printed 03/18/2010
