Corporations Act 2001
Note: See section 600K .PART 2 - REGISTERING AND DISCIPLINING PRACTITIONERS Division 30 - Annual liquidator returns CLAUSE 30-1 ANNUAL LIQUIDATOR RETURNS Registered liquidator must lodge annual return 30-1(1)
A person who is a registered liquidator during all or part of a liquidator return year for the person must, within 1 month after the end of that year, lodge with ASIC a return that conforms with subsection (3).
[ CCH Note: Cl 30-1(1) will be amended by No 69 of 2020, s 3, Sch 1, by substituting " the Registrar " for " ASIC " , (effective 22 June 2022 or a day or days to be fixed by Proclamation).]
Each of the following is a liquidator return year for a person who is or was registered as a liquidator under section 20-30 :
(a) the period of 12 months beginning on the day on which that registration first began;
(b) each subsequent period of 12 months. 30-1(3)
A return under subsection (1) must:
(a) be in the approved form; and
(b) include evidence that the person has, during the whole of any period of the year during which the person was registered as a liquidator, maintained:
(i) adequate and appropriate professional indemnity insurance; and
(ii) adequate and appropriate fidelity insurance;
against the liabilities that the person may incur working as a registered liquidator.
[ CCH Note: Cl 30-1(3A) will be inserted by No 69 of 2020, s 3, Sch 1 (effective 22 June 2022 or a day or days to be fixed by Proclamation). Cl 30-1(3A) will read:
The lodgement of a return under subsection (1) must meet any requirements of the data standards.]
ASIC may, on the application of the registered liquidator made before the end of the period for lodging a return under subsection (1), extend, or further extend, that period. Offence 30-1(5)
A person commits an offence of strict liability if:
(a) the person is subject to a requirement under subsection (1); and
(b) the person fails to comply with the requirement.
Penalty: 20 penalty units.