What is Reinstatement?
Once a company becomes deregistered, it is no longer recorded on ASIC's database as registered. Because it is no longer registered it can no longer trade.
Reinstating your company means it returns to registered status as if it was never deregistered.
How can a company be reinstated?
There are two different methods
1. Companies By Quorum Services Pty Ltd can apply to ASIC provided the right criteria is met.
2. Or you may apply to the court for an order that ASIC reinstates your company.
What is the right criteria?
Apply to ASIC - For companies deregistered by ASIC due to not lodging annual returns or for not paying review fees, you must provide valid proof demonstrating that a defect or oversight was made or the company was carrying on business at the time of deregistration.
Apply to the Court - If you cannot meet the requirements to apply to ASIC for reinstatement, you can apply for a court order that ASIC reinstates the company.
What happens when my company is reinstated?
Your company is taken to never being deregistered and all existing company officers are restored to their roles from the date the company was deregistered.