Document ID: chunk:federal_register_of_legislation:C2025C00185:section:601cl:p1
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 601CL (pt 1/3)
Character Range: 2230754–2233324

601CL  Cessation of business etc.
 (1) Within 7 days after ceasing to carry on business in this jurisdiction, a registered foreign company must lodge written notice that it has so ceased.
 (2) Where ASIC receives notice from a local agent of a registered foreign company that the foreign company has been dissolved or deregistered, ASIC must remove the foreign company's name from the register.
 (3) Where ASIC has reasonable cause to believe that a registered foreign company does not carry on business in this jurisdiction, ASIC may send to the foreign company in the prescribed manner a letter to that effect and stating that, if no answer showing cause to the contrary is received within one month from the date of the letter, a notice will be published in the Gazette with a view to striking the foreign company's name off the register.
 (4) Unless ASIC receives, within one month after the date of the letter, an answer to the effect that the foreign company is still carrying on business in this jurisdiction, it may publish in the Gazette, and send to the foreign company in the prescribed manner, a notice that, at the end of 3 months after the date of the notice, the foreign company's name will, unless cause to the contrary is shown, be struck off the register.
 (5) At the end of the period specified in a notice sent under subsection (4), ASIC may, unless cause to the contrary has been shown, strike the foreign company's name off the register and must publish in the Gazette notice of the striking off.
 (6) Nothing in subsection (5) affects the power of the Court to wind up a foreign company whose name has been struck off the register.
 (7) Where a foreign company's name is struck off the register under subsection (5), the foreign company ceases to be registered under this Division.
 (8) If ASIC is satisfied that a foreign company's name was struck off the register as a result of an error on ASIC's part, ASIC may restore the foreign company's name to the register, and thereupon the foreign company's name is taken never to have been struck off and the foreign company is taken never to have ceased to be registered under this Division.
 (9) A person who is aggrieved by a foreign company's name having been struck off the register may, within 15 years after the striking off, apply to the Court for the foreign company's name to be restored to the register.
 (10) If, on an application under subsection (9), the Court is satisfied that:
 (a) at the time of the striking off, the foreign company was carrying on business in this jurisdiction; or