If a foreign company wishes to carry on business in Australia it must be properly registered through ASIC under Part 5B.2 of the Corporations Act.
A company so registered is issued with an ARBN (Australian Registered Body Number) and thereafter operates much the same as an Australian incorporated company – with certain on-going compliance and reporting obligations as cited in the Act.
If a foreign registered company ceases to carry on business in Australia then ASIC must be notified.
Similarly, if a foreign company is wound up (dissolved, de-registered, etc) in its jurisdiction of incorporation or origin, or a liquidator is appointed, then ASIC must be notified (except for New Zealand companies where such information is ‘automatically’ electronically reported by the NZ Companies Office).
The relevant form of notification is Form 407 “Notification of Cessation, Winding-up or Dissolution of a Foreign Company or Registered Australian Body”.
Form 407 must be lodged with ASIC within 7 days of the company ceasing to carry on business [in Australia] or within 1 month if it is wound up [in its home jurisdiction].
The Form must be signed by a director or secretary of the company or the appointed local [Australian] agent.
*Originally written by Company Secretary, an Australian virtual company secretary service.