Corporations Act 2001

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)  

Note: See section 600K .

PART 2 - REGISTERING AND DISCIPLINING PRACTITIONERS  

Division 20 - Registering liquidators  

Subdivision B - Registration  

CLAUSE 20-30   REGISTRATION  
Registration as liquidator

20-30(1)    
ASIC must register the applicant as a liquidator if:

(a) the committee has decided that the applicant should be registered; and

(b) the applicant has produced evidence in writing to ASIC that the applicant has taken out:

(i) adequate and appropriate professional indemnity insurance; and

(ii) adequate and appropriate fidelity insurance;

against the liabilities that the applicant may incur working as a registered liquidator.

Note: Fees may be imposed under the Corporations (Fees) Act 2001 for the doing of an act by ASIC.

20-30(2)    
ASIC registers an applicant by entering on the Register of Liquidators the details relating to the applicant prescribed for the purposes of subsection 15-1(3) .

Registration subject to current conditions

20-30(3)    
The registration is subject to the current conditions imposed on the registered liquidator.

Certificate of registration

20-30(4)    
After registering a person as a liquidator, ASIC must give the person a certificate of registration.

20-30(5)    
The certificate may be given electronically.

Period of registration

20-30(6)    
The registration has effect for 3 years.