Registered liquidators: what they do and how to choose one

A registered liquidator is an insolvency practitioner registered by ASIC under the Insolvency Practice Schedule (Corporations). Only a registered liquidator can be appointed to run a company’s formal insolvency, such as a liquidation, a voluntary administration or a small business restructuring. To be registered, a practitioner must satisfy an industry committee on qualifications and senior-level experience, and must hold professional indemnity and fidelity insurance. You can check a practitioner’s registration on ASIC’s registers.

What registered liquidators do

Registered liquidators are the people appointed when a company enters a formal insolvency or restructuring process. Depending on the appointment, they act as:

• Liquidator, closing the company, selling its assets, investigating its affairs and paying creditors. See company liquidation.
• Voluntary administrator, taking control while creditors decide the company’s future. See voluntary administration.
• Deed administrator, supervising a deed of company arrangement.
• Restructuring practitioner, advising and supervising a small business restructuring. ASIC states that only a person registered as a liquidator can act in this role.
• Receiver, usually appointed by a secured lender. See receivership.

“Insolvency practitioner” is the broader everyday term. It also covers registered trustees in bankruptcy, who deal with individuals rather than companies and are registered separately. See bankruptcy.

How a liquidator becomes registered

An applicant lodges an application with ASIC, which refers it to a committee. The committee must be satisfied that the applicant meets the criteria in the Insolvency Practice Rules. For general registration these include:

• a tertiary qualification with at least 3 years of full-time study, or equivalent, in commercial law and accounting
• at least 2 course units at Australian Qualifications Framework Level 8, or equivalent, in insolvency practice
• at least 4,000 hours of relevant employment at a senior level in the 5 years before applying
• demonstrated capacity to perform the functions and duties of a registered liquidator

ASIC then registers the applicant if the committee decides they should be registered and the applicant shows they hold adequate professional indemnity and fidelity insurance. ASIC enters them on its Register of Liquidators. Registration lasts 3 years and is subject to conditions.

Registration only as a restructuring practitioner

A practitioner can instead be registered only to act as a restructuring practitioner. ASIC states the applicant must be a recognised accountant, meaning a member of Chartered Accountants ANZ, CPA Australia or the Institute of Public Accountants with a public practising certificate, and must demonstrate the capacity to perform the role. No academic qualifications or hours of experience are prescribed. Someone registered this way can run a small business restructuring, but not a liquidation or voluntary administration.

How to check a liquidator is registered

Search the practitioner’s name on ASIC’s registers. The register shows whether the person is registered and any conditions on their registration. If a company has already appointed a practitioner, the appointment is also recorded against the company on ASIC’s company register.

Choosing a registered liquidator

Directors usually choose the practitioner when they start a voluntary administration, a creditors’ voluntary liquidation or a small business restructuring. Questions worth asking:

• Independence. Has the practitioner, or their firm, had any prior relationship with the company, its directors or major creditors? In a voluntary administration or creditors’ voluntary liquidation, the practitioner must disclose relevant relationships to creditors in a declaration of independence, relevant relationships and indemnities.
• Experience with businesses like yours. Size, industry and the type of debt matter, particularly ATO debt and director penalty notices.
• Fees. Ask for an estimate in writing and how it is worked out. In a small business restructuring, the directors set the practitioner’s remuneration by board resolution before the appointment. In a liquidation or administration, remuneration needs approval from creditors, a committee of inspection or the court.
• Whether the process fits. A good practitioner will tell you when a different process, or no formal process, is the better option.

Creditors can vote to replace a voluntary administrator or a liquidator in a creditors’ voluntary liquidation. Creditors cannot replace a restructuring practitioner, and ASIC states the directors’ appointment of a restructuring practitioner cannot be revoked.

Greengate’s registered liquidators

Greengate Advisory’s registered liquidators take appointments across liquidation, voluntary administration, deeds of company arrangement and small business restructuring for SMEs from Sydney and Brisbane. Meet the team or contact us for a confidential first conversation.

Common questions

What is a registered liquidator?

An insolvency practitioner registered by ASIC under the Insolvency Practice Schedule (Corporations). Only a registered liquidator can be appointed as a company’s liquidator, voluntary administrator, deed administrator or restructuring practitioner.

How do I check if a liquidator is registered?

Search the practitioner’s name on ASIC’s registers. The register shows whether they are registered and any conditions on their registration.

What qualifications does a registered liquidator need?

For general registration, a committee must be satisfied the applicant has a tertiary qualification in commercial law and accounting, at least 2 Level 8 course units in insolvency practice, and at least 4,000 hours of senior-level relevant employment in the past 5 years. They must also hold professional indemnity and fidelity insurance.

Is a restructuring practitioner a registered liquidator?

Yes. ASIC states only a person registered as a liquidator can act as a restructuring practitioner. A practitioner can be registered only for restructuring work, in which case they cannot run a liquidation or administration.

Can creditors replace the liquidator?

In a voluntary administration and a creditors’ voluntary liquidation, creditors can vote to replace the practitioner. In a small business restructuring, creditors cannot appoint a different restructuring practitioner.

Sources: Insolvency Practice Rules (Corporations) 2016, section 20-1; ASIC, Apply to be a registered liquidator; ASIC, Small business restructuring and the restructuring plan. This page is general information, not advice about your circumstances. Last reviewed: 20 October 2026.