You should have received a transfer of property from a deregistered company

ASIC may, but is not obliged to, complete an outstanding obligation on behalf of a deregistered company and transfer property from a deregistered company.

See below for Information about transferring trust property to a new trustee: Indemnity: Transfer under section 601AF.

This page contains:

Alternative remedies you must try before applying to ASIC for a transfer
How to apply to ASIC for a transfer?
More information

Alternative remedies you must try before applying to ASIC for a transfer

ASIC generally exercises its discretionary powers under the Act to deal with vested property as a last resort. You will need to ensure the following alternative remedies are not available to you before you apply to ASIC for a transfer. The cost of alternative remedies by itself is not a sufficient basis for ASIC to exercise its powers to deal with property.

1. Reinstatement by ASIC

Before making an application for ASIC to deal with the property, see 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.

See more information about applying for reinstatement of the company.

2. Land titles office remedy

In some jurisdictions it might not be necessary for a transfer of real property to be executed by ASIC as the Titles Office Registrar may have power to register the property in another party's name despite the company's deregistration. For example adverse possession/possessory title provisions under the relevant State/Territory legislation.

ASIC (including 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. If such a remedy is available then it may be cheaper and more convenient for you than applying to ASIC for a transfer of property. Therefore, you must have tried using such a remedy before applying to ASIC for a transfer.

How to apply to ASIC for a transfer?

If the alternative remedies outlined above are not available to you then you may wish to apply to ASIC's Property Law Group for a transfer of the property.

Use this Checklist to prepare, and then submit, your application to ASIC:

Checklist: Transfer of Property under s601AF

Checklist: Transfer of Property under s601AF (PDF 315 KB)

Instructions for submitting your application are contained in the Checklist.

You will also need to complete the following indemnity:

Indemnity: Transfer under section 601AF

This indemnity is to be used when making an application to ASIC's Property Law Group for the transfer of property, from a company that has become deregistered, under section 601AF of the Corporations Act 2011.

Draft indemnity: Transfer under section 601AF (word 61KB)

More information

This is only a general guide as to ASIC's approach to the property and rights that pass to ASIC and the Commonwealth on deregistration of a company. This document does not represent legal advice and should not be interpreted as such. Each application or inquiry will be considered on its facts and decided on its individual merits, based on all the information available to ASIC at the time. We encourage you to seek your own professional advice to find out how the law applying to deregistered companies affects your individual circumstances.