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Closing down your company



Deregistration
Effects of deregistration
Deregistered companies
Reinstating a deregistered company


Deregistration



Voluntary deregistration

You can apply to deregister a company if it meets all of these requirements:
  • all members of the company agree to deregister
  • the company is not carrying on business
  • the company’s assets are worth less than $1000
  • the company has no outstanding liabilities
  • the company is not a party to any legal proceedings
  • the company has paid all fees and penalties payable under the Corporations Act 2001.

If the company holds an Australian financial services licence or an Australian credit licence, you should apply to cancel the licence before you apply to deregister the company.

Cancel your credit licence

Cancelling your AFS licence and getting your security bond back

Use Form 6010 Application for voluntary deregistration of a company

More information

Winding up a solvent company

This is a procedure for solvent companies initiated by the company’s members and involves:
  • the orderly winding-up of the company’s affairs
  • the appointment of a liquidator to manage the process of realising the company’s assets
  • ceasing or sale of its operations
  • payment of its debts (if any) and
  • distribution of surplus assets (if any) among its members.

More information

ASIC-initiated deregistration

Generally, we can initiate deregistration when a company:
  • has not paid its annual review fee for at least 12 months after the payment due date
  • has not responded to a Company compliance notice (return of particulars) at least 6 months after the response was required, has not lodged any other document in the last 18 months and we have no reason to believe the company is carrying on business, or
  • has not lodged any other document in the last 18 months and we have no reason to believe the company is carrying on business.

More information

Insolvency

Insolvency information for directors, employees, creditors and shareholders


Effects of deregistration


When a company becomes deregistered, it will continue to be recorded on the ASIC companies register. However its status will be shown as deregistered. Once a company is deregistered it ceases to exist as a legal entity and can no longer do anything in its own right.

When a company is the holder of a business name and deregistration is commenced it should be noted that we may also cancel any business names held.

More information on deregistered companies


Reinstating a deregistered company


When a company becomes deregistered, it is no longer recorded on our register as a registered company and is therefore unable to trade or take any action as a body corporate.

Reinstatement returns the company to registered status as if it were never deregistered.

More information on how to reinstate a company.

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