Company Compliance
13. Company Non-Compliance
Authors: Staff Legal Eagle
Firm / Chambers:
Last updated: 06 Jul 2015
- If your company fails to comply or attempt to comply with the Corporations Act 2001 (Cth) or its associated rules, guidance or regulations the Australian Securities and Investments Commission (ASIC) may do any of the following:
- investigate or institute surveillance of your company or its office holders;
- seek information;
- impose corrective or remedial action;
- impose penalties or fines;
- issue warning letters or notices to compel a business to comply;
- remove directors and auditors;
- appoint an administrator;
- impose administrative sanctions and or to seek orders from courts or tribunals;
- initiate or refer matters for criminal prosecution;
- suspend operations or trading;
- commence court action against the company or its office holders;
- deregister your company; and
- ban office holders from holding company positions.
- This will all depend on the severity of non-compliance.
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