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.
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
Partner
+61 3 9258 3673
leigh.baring@maddocks.com.au
Qualifications: LLB (Hons), BEc (Hons), Monash University
Leigh is a Partner in Maddocks Tax and Structuring team. Leigh has extensive experience in advising Australian and multinational companies, high net worth individuals, accountants and financial advisers on all areas of taxation law.
Leigh regularly provides advice on:
- structuring of businesses and transactions,
- mergers and acquisitions,
- corporate reorganisations and distributions,
- sale of businesses,
- demergers,
- capital raisings,
- joint ventures and property developments,
- international tax (both inbound and outbound), and
- succession planning and liquidations.
His advice covers both direct and indirect tax considerations.
Throughout his career, Leigh has been at the forefront in developing tax-effective corporate, trust and superannuation structures.
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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.