Assetless Administration Fund - Director Banning Grant

# ⚖️ Assetless Administration Fund - Director Banning Grant The Australian Securities and Investments Commission (ASIC) offers the Director Banning Grant, part of its Assetless Administration Fund. This grant is designed to provide funding to liquidators of assetless companies to conduct investigations and prepare reports under section 533(2) of the Corporations Act 2001. The primary objective is to assist ASIC in determining whether to disqualify individuals from managing corporations under sections 206F or 206GAA of the Corporations Act 2001. This initiative falls under the **Legal Services** category (151004). ## 🎯 Eligibility Criteria Eligible applicants are liquidators appointed to companies in liquidation resulting from a court-ordered winding up, a creditors’ voluntary winding up, or an ASIC-ordered winding up under section 489EA of the Corporations Act 2001. Liquidators of solvent companies voluntarily wound up by their members or special purpose liquidators are excluded. **Specific Eligibility Requirements:** * The company in liquidation must be an "assetless" administration. * A report under section 533(1) of the Corporations Act 2001 must already be lodged with ASIC. * Elements of sections 206F or 206GAA of the Corporations Act 2001 must be met. * Sufficient evidence must be available or likely to become available. Further details regarding the updated definition of "assetless" administration and other criteria are available in the Director Banning Grant Guidelines, which align with the Commonwealth Grant Rules and Principles 2024 (CGRPs). ## 📝 Application & Selection Process This is an **Open Non-competitive** grant program. There are no other specific instructions provided. Applications must be submitted via the ASIC Regulatory Portal: **https://regulatoryportal.asic.gov.au/**. The total available funding is not specified. **Keywords:** Australia, ASIC, Liquidator, Corporate Law, Director Disqualification, Assetless Companies, Corporations Act, Grant Funding, Insolvency, Legal Services, Regulatory Compliance, Business Grants.