ASIC Form 407 (FS20) serves as the formal notification to the Australian Securities and Investments Commission when a foreign company or registered Australian body undergoes a significant change in operational status. Under the Corporations Act 2001, sections 601CC(1), 601CL(1), and 601CL(14)(a) govern when and how this form must be lodged.
Three events trigger lodgement of Form 407. When a foreign company ceases to carry on business in Australia, the company must notify ASIC within seven days. If the company is dissolved in its place of origin, notification must be made within one month. If winding-up proceedings commence in the home country, Form 407 must be lodged within one month of that date.
When completing the form, the company must appoint a liquidator if winding up has commenced and provide the liquidator's details. If the form's space proves insufficient, an annexure may be attached. Any annexure must be identified by the company's ACN or ARBN and signed by the authorised signatory. Late lodgement attracts fees set by ASIC, so prompt submission is essential for compliance.
| Question | Answer |
|---|---|
| Form Name | ASIC Form 407 (FS20) |
| Form Code | FS20 |
| Form Length | 3 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 45 sec |
| Lodgement deadline | 7 days (cessation) or 1 month (dissolution or winding up) |
| Other names | FS20, Form FS20, ASIC FS20, annexure, Gippsland, 601CL |