Corporations and Companies

Statutory Demands and Registered Offices

If your business has been incorporated (i.e is a pty ltd company) you will have details of your business (such as the Directors and registered office of your business) registered with the Australian Securities and Investment Commission ("ASIC").  The ASIC records are searchable, and creditors will often serve (i.e send) documents on your registered office using this information. 

If your company is served with a statutory demand (a formal demand for payment of an alleged debt which, if not responded to strictly within 21 days, means your company is "deemed" insolvent and is liable to being wound up), serious consequences can occur if you do not deal with the statutory demand properly.  A large proportion of statutory demands are served on a company's resgistered office and, if ignored , could mean your company is wound up.

GLR Law recommends that all clients check their company's ASIC record, and ensure that they are aware of where the company's registered office is (which can be different from the office where the business actually operates out of).  Equally, clients should ensure that adequate procedures are in place to check for mail at the registered office.

If you do happen to receive a statutory demand, please contact GLR Law as soon as possible if you want to have it "set aside" (i.e declared void).  The 21 day time limit to respond to statutory demands is strict, and if let lapse your company could be at real threat of being wound up.