The Australian Securities & Investments Commission (ASIC) has released Information Sheet 293, Requesting eligible applicant authorisation, setting out how individuals and entities can seek written authorisation to become an eligible applicant under the Corporations Act 2001. Eligible applicant authorisation enables applicants to apply to a court to conduct or take part in public examinations related to the affairs of a company in external administration. The guidance explains who can be an eligible applicant, how to become one, and the matters and principles ASIC considers when deciding whether to grant a request. It also sets out what applicants need to provide, where to submit an application, the fees required and how ASIC will notify applicants of its decision, noting that authorisation may be provided for the purposes of sections 596A, 596B and 597 of the Corporations Act and that eligible applicants include persons authorised in writing by ASIC.
Australian Securities & Investments Commission 2025-04-16
Australian Securities & Investments Commission issues guidance on requesting eligible applicant authorisation for public examinations
The Australian Securities & Investments Commission (ASIC) issued Information Sheet 293 on obtaining written authorisation as eligible applicants under the Corporations Act 2001. This allows court applications for public examinations of companies in external administration. The guidance covers eligibility, application procedures, documentation, submission details, fees, and notification processes, applicable under sections 596A, 596B, and 597 of the Act.