Assetless Administration Fund - Director Banning Grant

Overview

The Director Banning Grant Guidelines is one of three revised Guidelines developed by ASIC to replace ASIC Regulatory Guide 109*. The Director Banning grant opportunity provides funding to a liquidator of an assetless company to investigate and prepare a report under section 533(2) of the Corporations Act 2001, primarily to assist ASIC to determine whether to disqualify a person from managing corporations under section 206F or 206GAA of the Corporations Act 2001. The Commonwealth Grant Rules and Principles 2024 (CGRPs) requires grant opportunity guidelines to be developed for all new grant opportunities, and revised guidelines to be developed where significant changes have been made to a grant opportunity. The Guidelines are developed in accordance with the CGRPs within the Commonwealth Grants Policy Framework.   Please read the Guidelines carefully, as it contains numerous changes including: - Sections and headings in accordance with the Whole-of-Government template - Simplified definition for "assetless" administration for determining a liquidator's eligility to apply for grant in section 4.5 *The other two Guidelines are: Asset Recovery Grant Guidelines; and Matters Other Than Director Banning Grant Guidelines.