AUSTRALIA · GRANT
Assetless Administration Fund - Matters Other than Director Banning Grant
⚖️ Assetless Administration Fund: Matters Other than Director Banning Grant This grant, administered by the Australian Securities and Investments Commission (ASIC), provides funding to liquidators of assetless companies in Australia. The primary purpose is to support investigations and the preparation of reports under section 533(2) of the Corporations Act 2…
Key facts
- Agency
- Australian Securities and Investments Commission
- Location
- National
- Status
- Open
- Opened
- 23 Jul 2020
- Closing
- Ongoing
- Categories
- 151004 - Legal Services
Summary and scope
The Matters other than Director Banning Grant Guidelines is one of three revised Guidelines developed by ASIC to replace ASIC Regulatory Guide 109. The Other Matters grant opportunity provides funding to a liquidator of an assetless company to investigate and prepare a report under section 533(2) of the Corporations Act 2001, where possible offences or misconduct had occurred that may warrant ASIC commencing its own investigation or taking enforcement action. The Commonwealth Grant Rules and Principles 2024 (CGRPs) requires grant opportunity guidelines to be developed for all new grant opportunities, and revised guidelines to be developed where significant changes have been made to a grant opportunity. The Guidelines are developed in accordance with the CGRPs within the Commonwealth Grants Policy Framework. Please read the Guidelines carefully, as it contains numerous changes including - Sections and headings in accordance with the Whole-of-Government template - Simplified definition for "assetless" administration for determining a liquidator's eligibility to apply for grant in section 4.5 The other two Guidelines are: Director Banning Grant Guidelines; and Asset Recovery Grant Guidelines.
Eligibility
Who is eligible to apply for a grant? Any liquidator appointed as a liquidator to a company in liquidation in: a court-ordered winding up; a creditors' voluntary winding up; or an ASIC-ordered winding up under section 489EA of the Corporations Act 2001, excluding a liquidator of a solvent company wound up by its members or a special purpose liquidator, may apply for funding under the Matters Other than Director Banning grant opportunity to investigate and prepare a supplementary report. Additional eligibility criteria: An application for funding under the Matter Other than Director Banning grant opportunity must meet four eligibility criteria: a. the company in liquidation must be an 'assetless' administration; b. a report under section 533(1) of the Corporations Act 2001 must have been lodged with ASIC; c. the liquidator must have formed a reasonable belief that: (i) there has been misconduct in relation to the company; (ii) there is, or will be on completion of the investigation, sufficient admissable evidence to prove allegation of misconduct, and (iii) the concerns raised may warrant ASIC taking legal proceedings taking into account the age and history of the relevant conduct; and d. sufficient evidence is or is likely to become available. Please read the Matters Other than Director Banning Grant Guidelines for further details regarding eligibility.
Source and freshness
Source update date not provided
Information shown is sourced from public opportunity records. Official buyer documents and addenda take precedence for deadlines, eligibility and submission requirements.