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Winding up a company may be an option if it doesn't meet the requirements for voluntary deregistration (a company with assets worth

Winding up a company may be an option if it doesn't meet the requirements for voluntary deregistration (a company with assets worth $1,000 or more cannot be deregistered on request).Winding up is a process where a company's outstanding matters are finalised, its assets liquidated, and it ceases to exist as a company.It is an offence under the to make a false declaration of solvency. If you believe that a company is insolvent, see Winding up an insolvent company.After the solvency declaration has been lodged, the company members must pass a special resolution to wind up the company.All members must have at least 21 days notice (in writing) of the meeting to vote on the special resolution, although this can be reduced by agreement.At the meeting, at least 75% of company members must be in favour of the resolution for it to pass.Make a list of the physical property your business owns, as well as any money owed to the business in the form of rent, security deposits, and unpaid bills (accounts receivable) you still expect to collect.

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Winding up a company may be an option if it doesn't meet the requirements for voluntary deregistration (a company with assets worth $1,000 or more cannot be deregistered on request).

Winding up is a process where a company's outstanding matters are finalised, its assets liquidated, and it ceases to exist as a company.

It is an offence under the to make a false declaration of solvency. If you believe that a company is insolvent, see Winding up an insolvent company.

After the solvency declaration has been lodged, the company members must pass a special resolution to wind up the company.

All members must have at least 21 days notice (in writing) of the meeting to vote on the special resolution, although this can be reduced by agreement.

At the meeting, at least 75% of company members must be in favour of the resolution for it to pass.

Make a list of the physical property your business owns, as well as any money owed to the business in the form of rent, security deposits, and unpaid bills (accounts receivable) you still expect to collect.

,000 or more cannot be deregistered on request).

Winding up is a process where a company's outstanding matters are finalised, its assets liquidated, and it ceases to exist as a company.

It is an offence under the to make a false declaration of solvency. If you believe that a company is insolvent, see Winding up an insolvent company.

After the solvency declaration has been lodged, the company members must pass a special resolution to wind up the company.

All members must have at least 21 days notice (in writing) of the meeting to vote on the special resolution, although this can be reduced by agreement.

At the meeting, at least 75% of company members must be in favour of the resolution for it to pass.

Make a list of the physical property your business owns, as well as any money owed to the business in the form of rent, security deposits, and unpaid bills (accounts receivable) you still expect to collect.

Keeping good records of your property and what happens to it will protect you in case a creditor later questions your liquidation of assets or in case you have to file for bankruptcy.Notice of the resolution to wind up the company must be published on ASIC's Published notices website by the end of the next business day after the liquidator is appointed.You will need to sign up to the website and pay the appropriate fee before you can publish a notice.To begin winding up a solvent company, a majority of the directors must make a Declaration of solvency (Form 520).This means they believe the company will be able to pay all its existing debts in full within 12 months of the commencement of the winding up. This must be done before the date on which the notice of meeting (see Step 2 below) is sent to members to consider the resolution to wind up the company.

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