This article was written by Nancy Wang Principal Solicitor at W & G Lawyers.
Most small and family businesses in Queensland are run through a company owned by the same people who manage it, and it is easy to think of the company as simply “us”. The law does not see it that way. Under the Corporations Act 2001 (Cth), a company is a separate legal person, and there are several ways in which it could cease to exist, or in which its owners could lose control of it, sometimes without realising it is happening. This article explains, in general terms, how a company may be deregistered and how control may pass to an administrator, a liquidator or a receiver.
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