Form · Insolvency, Restructuring & Bankruptcy
ASIC Form 507: report on company activities and property
Link to ASIC Form 507, the report on company activities and property at the start of an external administration. Part B is not part of the form and is not lodged.
- 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 the financial status of a company at the start of an external administration is reported on Form 507. Form 507A is a related verifying statement. Its page was not opened.
Used for these tasks
- Prepare appointment papers for administration, liquidation or receivership
- Build a first-day creditors and security-interest map
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
- The page says Form 507 is Part A only. Do not lodge Part B with ASIC.
- No fee. Late fees on the page are $102 and $428. The lodging period is stated as not applicable.
- The PDFs were last updated 1 August 2022. They were not opened.
- Form 507A is named as the statement verifying a report under section 475(1). Do not describe it. Its page was not opened.
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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