GO4193: Assetless Administration Fund - Matters Other than Director Banning Grant

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.

To be eligible the applicant must be a liquidator appointed to a company in liquidation (court-ordered winding up, creditors voluntary winding up, or an ASIC-ordered winding up under s489EA) and the liquidation must be an 'assetless administration' (net realisable assets less than the Item 1 threshold in the Schedule).

The liquidator must have lodged an initial statutory report under s533(1) via the ASIC Regulatory Portal, must have formed a reasonable belief that misconduct has occurred and that the concerns may warrant ASIC enforcement action, and there must be sufficient evidence or evidence likely to become available to prove the alleged misconduct.

'Net realisable assets' and exclusions to that calculation are defined in the guidelines.

The application must be submitted via the ASIC Regulatory Portal and address all eligibility and assessment criteria.