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What does deregistration mean?
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.
Why deregister a company?
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.
When can a company apply for deregistration?
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.
Voluntary deregistration or winding up?
There are 4 ways to close a company:
- voluntary deregistration;
- winding up a solvent company;
- ASIC-led deregistration; or
- insolvency.
If a company does not fulfill the conditions for deregistration, it may need to look into winding up. They are different.
How can Cleardocs assist with closing down a company?
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.
More Cleardocs information on related topics
You can read earlier ClearLaw articles on a range of company related topics.
Order Cleardocs company packages
- Company Deregistration - voluntary
- Company Registration
- Registered Company documents
- ABN Registration - company
- Shareholders Agreement
- Change to Sole Director Company
- Change to Constitution
- Division 7A Loan Agreement
- Company Name Reservation
- Public Company Limited by Guarantee
- Company Minutes & Resolutions Package
Lawyer in Profile
Senior Associate
+61 3 9258 3819
jack.coventry@maddocks.com.au
Qualifications: BA (Philosophy), Monash University, JD (Juris Doctor), University of Melbourne
Jack is a member of Maddocks Commercial team. He advises a range of corporate and private clients on:
- M&A transactions,
- corporate reorganisations, and
- legal and tax structuring.
Jack acts for clients on both buy-side and sell-side and specialises in founder-owned businesses and Australian subsidiaries of multi-national companies. He works across a number of sectors including information technology, professional services, and property development and management including land lease.
Jack's structuring work includes assisting multinationals to structure Australian operations, listed companies to achieve regulatory compliance / optimisation and providing general tax structuring. He has also represented clients in tax controversies including before the General Anti-Avoidance Review Panel (GAAR Panel) and the Federal Court of Australia.
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