Liquidator assistance program: Report as to affairs, books and records

Liquidator Assistance Program

The Liquidator Assistance Program provides assistance to external administrators by helping them obtain the relevant books and records of a company.

Liquidators and administrators can ask ASIC for help obtaining:

  • a Report as to the Affairs of the company;
  • books and records in the possession of officers of a company; and
  • books and records in the possession of a third party.

How ASIC can assist

ASIC may contact company officers or third parties to remind them of their statutory obligations to assist liquidators and administrators when companies enter external administration.

Where the failure to assist the liquidator or administrator persists, ASIC may commence criminal proceedings against:

  • company officers – for failing to provide a Report as to the Affairs of the company (s475) and/or failing to provide books and records (s530A)
  • third parties – for failing to provide books and records (s530B)

How liquidators and administrators can request ASIC's assistance

We prefer you request ASIC's assistance separate from your s533 report so we can deal with the matter quickly and efficiently.

Requests for assistance should be sent to:

Prosecutions Assistance Officer
Small Business Compliance & Deterrence
GPO Box 9827 in your capital city

It is preferable that you seek ASIC's assistance to obtain a Report as to Affairs and/or books and records prior to applying for Assetless Administration funding for preparing Supplementary Reports that will allege contraventions of s475, s530A or s530B.

Information you will need to provide ASIC

When requesting ASIC's assistance, you should provide a covering letter that addresses the following:

  • details of the winding up
  • the company officer concerned
  • the officer's relationship to the company
  • contact details for the officer, including residential addresses, business addresses, email addresses and telephone numbers
  • the amount of the estimated deficiency of the company. If unknown, the amount claimed by the petitioning creditor
  • details of any contact between and/or your staff and the officer, including notices and letters sent to the officer, emails, file notes of meetings and telephone conversations, and details of any books and records that have already been provided
  • if some books and records have been provided, but you believe there are further books in the officer's possession, provide details of the further books required and evidence to support your belief that the officer has possession of these books, and
  • if a third party has possession of company books and records, provide the name and contact details of the person. Provide evidence to support your belief that the person has possession of company books and records, and details of any contact between you and/or your staff and the person.

What you may be required to do

Once ASIC has received your request for assistance, ASIC may request a statement/affidavit from you that describes the history of the matter and the details of non-compliance. ASIC will email you a template statement or affidavit to complete if required.

You must be prepared to attend court and give evidence in the event ASIC commences a prosecution. Once ASIC commences a prosecution, it will only withdraw proceedings in very limited circumstances.

If you submit a request for assistance, and the officer subsequently complies with their obligations to submit a Report as to Affairs and/or books and records, you must immediately notify ASIC.

ASIC Information sheet for company officers

When requesting that company officers provide Reports as to Affairs, books and records and company property, external administrators should include this, where appropriate: Providing assistance to external administrators: books, records and RATA (PDF).

More information

What's new

ASIC works to ensure registered liquidators comply with obligations

An ASIC review has found that while registered liquidators are mostly doing the right thing when complying with their lodgement and publication obligations, there is room for improvement. 18-172MR. 13 June 

 

Industry funding

The Government has introduced new laws that change the way ASIC is funded. Regulated entities will receive an invoice for ASIC’s regulatory services delivered in the prior year. Find out what this means for registered liquidators.

 

Quicklinks

Insolvency Law Reform Act 2016

Releases on insolvency

Liquidator registration applications

Insolvency statistics

 

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Published notices

View insolvency and deregistration notices on the published notices website.

Last updated: 20/10/2014 12:00