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.
For further information please contact:
PO Box 22
Bathurst NSW 2795
Tel: 02 6333 1400
Freecall: 1800 502 042