INFO 53
Directors: Obligations to external administrators
This is Information Sheet 53 (INFO 53). It provides general information for company officers about their obligations when a company is insolvent.
In plain English
INFO 53 explains directors' duties when a company is insolvent and external administrators are involved.
INFO 53 is for company directors. It provides information about obligations when a company is insolvent. Directors must cooperate with external administrators. They need to provide information and documents. This guidance helps directors understand their responsibilities during insolvency proceedings. It was last updated by ASIC.
Why it matters
Directors need to understand their legal duties during company insolvency. Failing to cooperate with administrators can create significant risk. This guidance clarifies expectations and helps directors fulfil their obligations.
AI-assisted summary, grounded in the source link below. Generated 2026-05-23 via gemma3:12b.
Issuing regulator
ASIC →Topics
Source: https://www.asic.gov.au/regulatory-resources/insolvency/insolvency-for-directors/directors-obligations-to-external-administrators/. Rules Mate indexes + summarises; always verify against the regulator's live publication.