Corporations Act 2001
If it appears to the liquidator of a company, in the course of a winding up of the company, that: (a) (b)
(i) may have misapplied or retained, or may have become liable or accountable for, any money or property of the company; or
(c) the company may be unable to pay its unsecured creditors more than 50 cents in the dollar;
(ii) may have been guilty of any negligence, default, breach of duty or breach of trust in relation to the company; or
the liquidator must:(d) 597 ; and (e) give ASIC such information, and give to it such access to and facilities for inspecting and taking copies of any documents, as ASIC requires.
[ CCH Note: S 533(1) will be amended by No 69 of 2020, s 3, Sch 1, by inserting " with ASIC " after " lodge " in para (d) (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
The liquidator may also, if he or she thinks fit, lodge further reports specifying any other matter that, in his or her opinion, it is desirable to bring to the notice of ASIC. 533(3)
If it appears to the Court, in the course of winding up a company: (a) (1)(a) in relation to the company; or (b) (1)(b) in relation to the company;
and that the liquidator has not lodged with ASIC a report with respect to the matter, the Court may, on the application of a person interested in the winding up, direct the liquidator so to lodge such a report.