RG 109 Assetless Administration Fund: Funding criteria and guidelines (withdrawn)

Important notice
Changes to how registered liquidators lodge forms with ASIC

Effective 30 March 2020, the following documents must be submitted through the ASIC Regulatory Portal:
  • applications for assetless administration funding
  • funded supplementary s533 reports.

For more information about these changes, see Registered liquidator transactions on the ASIC Regulatory Portal.

Changes to RG 109

RG 109 has been withdrawn. The guidance relating to applications for funding from the Assetless Administration Fund is now published on the Australian Government’s grant information system GrantConnect in accordance with the Department of Finance’s requirements.

Each of the three types of funding (previously outlined in RG 109) is set out in its individual grant guidelines, and can be accessed via the following links:

To access the grant guidelines and template grant agreement (Grant Documents) for each type of grant, registration as a user on GrantConnect is required.

What's new

Insolvency reforms commence on 1 January 2021

Reforms to corporate insolvency laws commence on 1 January 2021 for companies with liabilities less than $1 million.  These reforms include:

-a new debt restructuring process for incorporated businesses

-a new, simplified liquidation pathway for small businesses, and

-a new class of registered liquidator who can only undertake the debt restructuring process.

Corporations Amendment (Corporate Insolvency Reforms) Act 2020

Corporations Amendment (Corporate Insolvency Reforms) Regulations 2020

Insolvency Practice Rules (Corporations) Amendment (Corporate Insolvency Reforms) Rules 2020

 

Industry funding

The Government has introduced new laws that change the way ASIC is funded. Regulated entities will receive an invoice for ASIC’s regulatory services delivered in the prior year. Find out what this means for registered liquidators.

 

Quicklinks

Insolvency Law Reform Act 2016

Releases on insolvency

Liquidator registration applications

Registered liquidator disciplinary decisions

Insolvency statistics

AFSA - ARITA - ASIC joint liaison meetings

 

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ASIC Corporate Insolvency Update

Published notices

View insolvency and deregistration notices on the published notices website.

Last updated: 30/03/2021 09:23