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Assetless Administration Fund - Matters Other than Director Banning Grant

Australian Securities and Investments Commission · Australia

This grant provides funding to a liquidator of an assetless company to investigate misconduct and prepare a supplementary report under the Corporations Act 2001. It supports matters where possible offences or misconduct may warrant ASIC commencing its own investigation or taking enforcement action.

Official Grant Page

Deadline

Rolling / Ongoing

Location

Australia

Who Can Apply

- Applicant must be a liquidator appointed to an eligible company liquidation - Company in liquidation must be an assetless administration - A section 533(1) report must already have been lodged with ASIC - Liquidator must reasonably believe misconduct occurred and sufficient evidence is or will be available
Any liquidator appointed to a company in liquidation in a court-ordered winding up, a creditors' voluntary winding up, or an ASIC-ordered winding up under section 489EA of the Corporations Act 2001 may apply, excluding a liquidator of a solvent company wound up by its members or a special purpose liquidator. In addition, the company in liquidation must be an assetless administration, a report under section 533(1) of the Corporations Act 2001 must have been lodged with ASIC, the liquidator must have formed a reasonable belief that there has been misconduct, that there is or will be sufficient admissible evidence to prove the allegation, and that the concerns may warrant ASIC taking legal proceedings taking into account the age and history of the conduct, and sufficient evidence is or is likely to become available.

What's Funded

Investigating possible misconduct in an assetless company in liquidation and preparing a supplementary report for ASIC under section 533(2) of the Corporations Act 2001.

Expected Outcomes

A completed investigation and supplementary report with sufficient admissible evidence to support allegations of misconduct that may warrant ASIC legal or enforcement action.

Key Information

Applicant Types

other

Stage

any

Funding Purposes

other

Keywords

assetless administration fundliquidatorcorporate misconductinsolvencyASICsupplementary reportcorporations act 2001investigation

Frequently Asked Questions

What is the Assetless Administration Fund - Matters Other than Director Banning Grant?

The Assetless Administration Fund - Matters Other than Director Banning Grant is a business grant offered by Australian Securities and Investments Commission in Australia. This grant provides funding to a liquidator of an assetless company to investigate misconduct and prepare a supplementary report under the Corporations Act 2001. It supports matters where possible offences or misconduct may warrant ASIC commencing its own investigation or taking enforcement action.

Who is eligible for the Assetless Administration Fund - Matters Other than Director Banning Grant?

- Applicant must be a liquidator appointed to an eligible company liquidation - Company in liquidation must be an assetless administration - A section 533(1) report must already have been lodged with ASIC - Liquidator must reasonably believe misconduct occurred and sufficient evidence is or will be available

What activities are funded?

Investigating possible misconduct in an assetless company in liquidation and preparing a supplementary report for ASIC under section 533(2) of the Corporations Act 2001.

How do I apply for the Assetless Administration Fund - Matters Other than Director Banning Grant?

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