Lodgement of CVL DIRRIs? Not till 1 September

by Kim Arnold | Mar 07, 2017

There is a lot of confusion in the profession at the moment as to whether you are currently required to lodge your DIRRI in a Creditors' Voluntary Liquidation.

Although the email sent from ASIC on 6 March 2017 refers to the CVL sections 506A(3) and (6) as applying to the Form 531, when you refer to the "Summary of key changes" page on the ASIC website it clearly states that the CVL DIRRI is not required to be lodged until 1 September 2017. This is replicated below:

 

Lodging declarations of relevant relationships and indemnities

Section

436DA, 449CA

ASIC Form

New Form 531 available from 1 March 2017 on liquidator portal

The reforms amend sections 436DA and 449CA so that an external administrator must lodge a copy of their declaration of relevant relationships and declaration of indemnities (or replacement declarations) with ASIC as soon as practicable after making the declaration.

NOTE:The changes to s506A regarding declarations of relevant relationships and declarations of indemnities for a liquidator in a creditors' voluntary liquidation do not commence until 1 September 2017.

 

Any questions should be referred to the Specialist Team.