A co-operative with less than $1,000 in assets and which meets the criteria set out below can apply to the Registrar for voluntary deregistration.
The process is the same as for a company under section 601AA of the Corporations Act 2001.
Requirements for voluntary deregistration
An application for voluntary deregistration can be made where the co-operative meets all of the following requirements:
- all members of the co-operative agree to the deregistration
- the co-operative is not carrying on business
- the co-operative’s assets are worth less than $1,000
- the co-operative has paid all fees and penalties payable under the CNL
- the co-operative has no outstanding liabilities (including unpaid employee entitlements or taxation liabilities)
- the co-operative is not a party to any legal proceedings.
Applications which do not meet all of these requirements will be rejected.
How do you apply for voluntary deregistration?
Where the co-operative meets the above requirements:
- complete ASIC Form 6010 Application for voluntary deregistration of a company (ensure all references to "company" are replaced with "co-operative")
- the application must be signed by a director or secretary of the co-operative
- ensure the co-operative is up to date with its reporting obligations under the CNL (including lodgement of annual returns).
In signing the form, the applicant declares that the co-operative meets the legal requirements for voluntary deregistration. There are significant penalties for knowingly making a false declaration.
You may be required to provide additional information regarding the co-operative.
There is no lodgement fee for the application.
What happens to the application?
If the application is approved, the applicant will be informed of the co-operative’s impending deregistration with notice of the proposed deregistration published in the NSW Government Gazette.
The applicant will also be given notice when the co-operative has been deregistered.
If the application is refused, the applicant will be provided with the reason for its refusal.
Need more information?
Registry and Accreditation
PO Box 22
Bathurst NSW 2795