Assetless Administration Fund - Asset Recovery Grant

Overview

The Asset Recovery Grant Guideline is one of three revised guidelines developed by ASIC to replace ASIC Regulatory Guide 109*. The Asset Recovery grant opportunity provides funding to a liquidator of an assetless company to take action to recover certain assets, or for compensation for loss, where misconduct in relation to the company has occurred which caused assets of the company to dissipate. 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 accordancewith the Whole-of-Government template - Simplified definition for 'assetless' administration for determining a liquidator's eligibility to apply for grant in section 4.5 - Clearer assessment criteria in section 6- Explicit guidance regarding funding for security for costs orders to support asset recovery.  * The other two Guidelines are: Director Banning Grant Guidelines; and Matter Other Than Director Banning Grant Guidelines.