Official Liquidators are qualified insolvency specialists. Official Liquidators can only be appointed to liquidate a company by a Court.
Like Registered Liquidators, Official Liquidators are also registered with the Australian Securities and Investments Commission (ASIC), however, Official Liquidators have a different class of registration with ASIC. Registered Liquidators must specifically apply and provide the necessary undertakings to ASIC to become registered as an Official Liquidator.
ASIC regulates all liquidators (both Registered and Official Liquidators) and they are required to file many documents with ASIC in all liquidations. Liquidators are also required to file a statement with ASIC every 3 years on all liquidations they have accepted.
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