ASIC Consults on Guidance for Reviewing Liquidator Appointments
Summary
ASIC is consulting on draft Information Sheet 000 explaining its discretionary power to appoint reviewing liquidators to companies in external administration under the Corporations Act 2001. The consultation seeks feedback from registered liquidators, creditors, and company officers on the application process, factors ASIC considers, and circumstances where appointment is unlikely. Comments are due by 5pm AEST on 5 May 2026, with final guidance expected by 30 June 2026.
What changed
ASIC is proposing to release new Information Sheet 000 providing guidance on its discretionary power under the Corporations Act 2001 to appoint reviewing liquidators to companies in external administration. The draft guidance covers the application process, factors ASIC considers when assessing applications, circumstances where ASIC is less likely to appoint a reviewing liquidator, matters that can be reviewed, and expectations of external administrators. This represents greater transparency about an existing power that has been in effect since 2017.
Affected parties including registered liquidators, creditors, company officers, and external administrators should review the draft guidance and submit feedback by 5 May 2026. Registered liquidators seeking appointment to the Reviewing Liquidator Panel (refreshed from 1 July 2024) should pay particular attention to the factors ASIC considers and the circumstances described. Companies in external administration and their creditors gain clearer insight into how to apply for a reviewing liquidator and what outcomes to expect.
What to do next
- Submit feedback to rri.consultation@asic.gov.au by 5pm AEST on 5 May 2026 if you have a financial interest in a company in external administration
- Review draft Information Sheet 000 to understand ASIC's application factors and circumstances where appointment is unlikely
- Monitor for the final guidance expected by 30 June 2026
Archived snapshot
Apr 8, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
Print Share ASIC is seeking feedback on a proposal to release a new information sheet on its discretionary power to appoint a reviewing liquidator to a company in external administration.
People who have a financial interest in a company in external administration or are an officer of the company, can apply to ASIC to have a reviewing liquidator appointed.
The draft Information Sheet 000 Corporate insolvency: ASIC’s power to appoint reviewing liquidators (draft INFO 000) explains:
- how to apply
- what factors ASIC considers when deciding on the application, and
- next steps if ASIC appoints a reviewing liquidator. Draft INFO 000 also outlines circumstances when ASIC is less likely to appoint a reviewing liquidator, matters that can be reviewed and expectations of external administrators.
The guidance is intended to provide greater clarity to liquidators and potential applicants about the process for applying to ASIC for appointment of a reviewing liquidator, and the factors that ASIC takes into account in assessing applications.
ASIC expects to release the final information sheet by 30 June 2026.
Providing feedback
Please send your feedback to rri.consultation@asic.gov.au by 5pm AEST 5 May 2026.
Background
ASIC can appoint registered liquidators to act as a reviewing liquidator to a company in external administration under the Corporations Act 2001. This discretionary power came into effect in 2017.
From 1 July 2024, ASIC appointed a new Reviewing Liquidator Panel comprised of registered liquidators who can be appointed as reviewing liquidators to a company in external administration.
Related links
- CS 49 Proposed guidance on ASIC’s power to appoint reviewing liquidators
- Draft Information Sheet 000 Corporate insolvency: ASIC’s power to appoint reviewing liquidators
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