In an email to liquidators on 1 November 2018 the Australian Securities and Investments Commission has notified liquidators that its Report as to Affairs (RATA) form – Form 507 – is to be replaced by its new Report On Company Activities and Property (ROCAP) form – which comprises a new Form 507 plus a questionnaire. Directors and officers of companies entering into insolvent administration are required to complete the form and questionnaire.
Liquidators have been asked to issue the new ROCAP to directors for all new External Administrations after 1 November 2018, but says there will be a three-month transition period to allow software providers to catch up with the change.
A copy of the email is reproduced below.
For more about the new form and questionnaire, see my post “Framework of new Report as to Affairs (RATA) drafted by ASIC” (19/10/2018).
Email from ASIC to Registered Liquidators, 1 November 2018: