Form · Insolvency, Restructuring & Bankruptcy
ASIC Form 505: appointment or cessation of an external administrator
Link to ASIC Form 505. The form page says it is used to appoint or cease appointment of an external administrator. There is no fee. Late fees are stated in dollars.
- Kind
- Form. A form to complete, or a guide to completing an official one.
- Where it applies
- Commonwealth
- AI use
- Yellow You and the tool draft together, with you directing. You check every statement you rely on.
- Law stated as at
- 22 October 2026
- Status
- Maintained. Checked on 22 October 2026 against the official form at asic.gov.au and the authority it cites, for Commonwealth.
- Version
- 1
- Source
- Link to the official form. Licence: © Australian Securities and Investments Commission. Link only: download the current form from the official page each time; do not copy or adapt it.
Where this comes from
The official form is published by asic.gov.au; this page is a completion guide. Last checked on 2026-10-22.
When to use it
Use when an external administrator's appointment, or the end of that appointment, is notified to ASIC on Form 505. The form page says the lodging period is not applicable, and it also states late fees.
Used for these tasks
- Prepare appointment papers for administration, liquidation or receivership
- Prepare insolvency court filings with AI-use verification
Each task page says how far AI may help with the task and what the lawyer must review.
How AI may be used
Yellow. A tool may compare a working note with the current official form and list what is missing. The lawyer downloads the form, completes it and lodges it.
AI may
- List the facts and documents the official page says to have ready.
- Compare a working checklist with the current downloaded form and mark gaps.
- Prepare a filing note that quotes only what the official page says.
AI must not
- Do not copy the official form into a new document or file a retyped version.
- Do not invent a form number, fee, time limit or rule that is not on the official page.
- Do not draft, settle or sign an affidavit, statutory declaration or other sworn evidence.
- Do not lodge the form or tell the client it has been filed.
The lawyer checks
- Lodge in the liquidator portal, or post the PDF. The PDF on the page was last updated 29 April 2021.
- The page says no fee. It also says late fees of $102 up to one month late and $428 over one month late, and that the lodging period is not applicable.
- Check the current Corporations Act sections the page lists before relying on a deadline the form page does not state.
- Post to PO Box 4000, Gippsland Mail Centre VIC 3841 if lodging on paper.
Method: how the Green, Yellow and Red levels are decided. This is guidance for planning, not legal advice.
Official form
Open the official form. Always use the current version from the issuer. Licence: © Australian Securities and Investments Commission. Link only: download the current form from the official page each time; do not copy or adapt it..
Read the full text
The full text is available after you log in. It is free. When you log in you can:
- read the whole precedent, with its drafting notes beside it;
- copy it, or download it as a Word file or Markdown;
- add it to your firm’s knowledge base, so colleagues can find it;
- let the AI tools you connect read it from that knowledge base.
The summary, the law it rests on and the AI-use guidance above stay public. Privacy.
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