ABSTRACT
Under the Corporations Act 2001, a company comes into existence when it registers with ASIC and a certificate of registration is issued. In the same way, after a company ‘dies’, ASIC will de-register the company and this process is known as ‘external administration’. This area of law is complex and is undertaken by specialist lawyers and accountants called insolvency practitioners. Such professionals have to be specifically registered with ASIC, in the same way that auditors must be registered.
