Section 550 — Corporations Act 2001 (Cth)

(1) This section applies if an end of administration return for a company is lodged with ASIC on the basis that the affairs of the company are fully wound up.

ASIC must deregister at the end of 3 month period

(2) Subject to any order under subsection (3), ASIC must deregister the company at the end of the period of 3 months beginning on the day after the return is lodged (the deregistration period).

ASIC must deregister on a day specified by the Court

(3) On application by the liquidator or any other interested party, the Court may make an order that ASIC deregister the company on a specified day. The Court must make the order before the end of the deregistration period.

(4) The person on whose application an order under subsection (3) is made must, within 10 business days after the making of the order, lodge a copy of the order.

Related sections

• s 543 — Investment of surplus funds on general account
• s 544 — Unclaimed money to be paid to ASIC
• s 545 — Expenses of winding up where property insufficient
• s 553 — Debts or claims that are provable in winding up
• s 553A — Member cannot prove debt unless contributions paid
• s 553AA — Selling shareholder cannot prove debt unless documents given

Research how courts apply s 550

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