Winding up a Company with more than $1000.00 in assets

Question

How do I de-register a Company which has more than $1000.00 in assets?

Answer

If a Company does not meet the requirements for voluntary deregistration (e.g. its assets are worth more than $1000.00 or it is insolvent), you may need to wind up the Company instead. To do this:

  1. Company Directors must make a declaration of solvency
  2. Company members must pass a special resolution
  3. Notice of the special resolution must be published on the published notices website
  4. Liquidator winds up Company's affairs
  5. Liquidator finishes winding up Company and lodges final documents

More detailed information is available on the ASIC website.

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