This article is more than 24 months old and is now archived. This article has not been updated to reflect any changes to the law.
When a company is deregistered, it closes or ceases to exist. This also signals the end of the obligations of the company officeholders. The company is not removed from the ASIC register but rather, its status is displayed as deregistered.
It's a good idea to consider deregistering a company if it's no longer trading or no longer required.
There are costs associated with allowing a company to remain dormant. Also, while a company remains registered, it and its officeholders are subject to legal requirements imposed by the corporations legislation.
Under the Corporations Act, a company can apply for deregistration as it meets 6 conditions. On making the application to ASIC for deregistration, the person making the application must declare that all 6 conditions have been satisfied.
There are 4 ways to close a company:
If a company does not fulfill the conditions for deregistration, it may need to look into winding up. They are different.
Through Cleardocs, you will be able to create your members and directors resolutions for voluntary deregistration and lodge your Form 6010 with ASIC. We will also detail the steps a company must take in relation to its financial accounts and tax obligations.
You can read earlier ClearLaw articles on a range of company related topics.
Paul is a Special Counsel in the Maddocks Commercial team with particular expertise in commercial agreements for the supply of goods and/or services, the Personal Property Securities Act 2009, the National Consumer Credit Protection Act 2009 and the National Credit Code and the Australian Consumer Law.
Paul's key areas of practice include:
Before joining Maddocks, Paul was employed for 13 years with the Victorian Department of Justice, principally as a Deputy Registrar in the Victorian Magistrate's Court, but also as a legislation, policy and project officer for the Department.
The legal information and commentary on this site is general only. Documents ordered through Cleardocs affect the user's legal rights and liabilities. To assess their suitability for the user, legal accounting and financial advice must be obtained.
Learn More
For more information, contact Maddocks on (03) 9258 3555 and ask to speak to a member of their team.