If the property is shares and you have a holding statement clearly showing the shares are property of the trust, ASIC may – if it considers appropriate in the circumstances to do so – provide you with a letter for the share registry.

Please note there may be circumstances where ASIC does not consider it appropriate to provide a letter for the share registry. In those cases, the new trustee must either reinstate the company or, where ASIC reinstatement is not available, formally apply to ASIC for an executed transfer, which includes payment of the application fee and submission of a complete application. See How to apply to ASIC for a transfer to new trustee below.

To enable ASIC to provide you with a detailed reply as to what you need to do, please forward ALL the following documents to property.law@asic.gov.au:

1. a recent holding statement (no more than 3 months old)
2. a Commonwealth statutory declaration from a former officeholder of the company at the date of deregistration (Note: if the company underwent a liquidation, the statutory declaration must be from a former liquidator):
   1. stating the name of the trust
   2. identifying the shares (including the full SRN)
   3. confirming the company held the shares as trustee of the trust
   4. stating who the new trustee/s of the trust are
   5. confirming whether there is any other property of any type registered in the company's name, and if so, providing full details.

A template for a Commonwealth statutory declaration can be downloaded from the Australian Attorney-General's Department website.

ASIC is aware of the following legislative provisions which enable property to be vested in the new trustee:

• QLD – section 109 of the Land Title Act 1994 (Qld) together with section 12 of the Trusts Act 1973 (Qld)
• VIC – section 58 of the Transfer of Land Act 1958 (Vic)
• WA – section 182 of the Transfer of Land Act 1893 (WA) or section 10 of the Trustees Act 1962 (WA) which deems the appointor to be the conveying party for the purpose of registration.

ASIC will not normally consider an application to transfer trust property except where the property is outside these States, as it exercises powers to deal with property as a last resort, where no other remedy is available. In any event, the above legislative provisions provide a cheaper and more convenient remedy for new trustees (than making an application to ASIC).

If the property is in WA, ASIC has no objection to you using section 10 of the Trustees Act 1962 (WA) which deems the appointor to be the conveying party for the purposes of registration.

If the property is in Qld, Vic or WA, then ASIC recommends you provide the relevant state land titles office a copy of the 'Deed of appointment of new trustee' and request it vest the property in the new trustee under the relevant provision (requirements for making such a request are usually available in their Practice Manual/Lodging Book).

ASIC on behalf of the Commonwealth has no objection to Titles Office Registrars exercising any of their powers to register property in another party's name, without ASIC's execution of a transfer. If required by the Titles Office, ASIC can provide you with a letter confirming its position (please email your request and a current title search of the property to property.law@asic.gov.au).

You may also refer the titles office to this webpage.

Before making an application for ASIC to deal with the property, read our Top call centre questions if reinstatement of the company by ASIC is available. If it is then it will be more convenient and perhaps more cost-effective for you.

More information about reinstatement a deregistered company.