Winding up a solvent company

If you plan to wind up a solvent company you will need to deregister with the Australian Securities and Investment Commission (ASIC) Even after it ceases trading a registered company is still subject to all of the legal requirements of a registered company including payment of the annual review fee.

A company ceases to exist on deregistration.

To wind up your company you need to ensure that the following requirements have been met:

  • all members of the company agree to deregister
  • the company isn't carrying on business
  • the company's assets are worth less than $1000
  • the company has paid all fees and penalties payable under the Corporations Act 2001
  • the company has no outstanding liabilities
  • the company isn't a party to any legal proceedings.

ASIC provides information on deregistering a company, including the necessary downloadable form. For more information call 1300 300 630.

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