Released 7 April 2026. Comments close 5 May 2026.
ASIC is inviting feedback on a proposal to release an information sheet on ASIC's power to appoint reviewing liquidators.
A consultation paper was not issued for this consultation.
Our proposal
We are seeking feedback on our proposal to release an information sheet on ASIC's discretionary power to appoint a reviewing liquidator to a company in external administration.
It aims to provide guidance on:
- how to apply to ASIC to appoint a reviewing liquidator
- what we consider when deciding on the application
- when we are less likely to appoint a reviewing liquidator, and
- what happens if we appoint a reviewing liquidator.
Providing feedback
We invite feedback on our proposal to release an information sheet. You should send your submission to rri.consultation@asic.gov.au by 5 pm AEST on Tuesday 5 May 2026.
You may choose to remain anonymous or use an alias when providing feedback. However, if you do remain anonymous, we will not be able to contact you to discuss your feedback should we need to.
We will not treat your feedback as confidential unless you specifically request that we treat the whole or part of it (such as any personal or financial information) as confidential.
Please see our privacy policy for more information on how we handle personal information, your rights to seek access to and correct personal information, and your right to complain about breaches of privacy by ASIC.
Background
ASIC can appoint a reviewing liquidator to a company in external administration under section 90‑23 of Schedule 2 of the Corporations Act 2001.
Anyone with a financial interest in that external administration or an officer of the company can apply to ASIC to have a reviewing liquidator appointed.
We may appoint a reviewing liquidator when there are concerns about a matter that relates to the external administration of the company.
Our discretionary power to appoint a reviewing liquidator to a company that is in external administration came into effect in 2017.
Effective from 1 July 2024, ASIC appointed a new Reviewing Liquidator Panel. This panel comprises suitably qualified and experienced registered liquidators that we can appoint as reviewing liquidators to a company in external administration.