Before you escalate an overdue account — or before you extend credit in the first place — ASIC Connect (connectonline.asic.gov.au) is the fastest free source of information about a debtor company in Australia. A five-minute search can tell you whether the company is still registered, who its directors are, and whether it has a history that should give you pause.
Finding the company
Search by company name or ACN (Australian Company Number). The ACN should be on the company's invoices, credit application and correspondence. Use the ACN rather than the name wherever possible — trading names can be confusing, and the ACN uniquely identifies the legal entity you are actually dealing with.
What the company profile shows
The free company extract shows the company's full legal name, ACN, registration date, current status (registered, deregistered, under external administration), registered office address, principal place of business, share capital structure (paid and unpaid), and current and historical directors and secretaries.
The registered office address matters because it is the address at which legal documents can be served. If the registered office is a different address from where you have been dealing, note it — and note whether it is an accountant's or agent's office, which is common for dormant or shell companies.
Director information
Check the directors carefully. Look at how many directorships each person holds — you can search by individual director to see all their current and historical company appointments. A director with a long history of failed or deregistered companies is a red flag. ASIC Connect shows historical appointments, so even if a director resigned before a company was wound up, the appointment will appear.
Also check the appointment and cessation dates. A director who resigned a month before the company entered administration may have been trying to distance themselves from what was coming.
Company status: what each status means
"Registered" means the company is currently active with ASIC. "Under external administration" means an administrator, liquidator or receiver has been appointed — this will significantly change your recovery options and you should act immediately. "Deregistered" means the company no longer exists as a legal entity — recovery against a deregistered company requires reinstatement, which involves ASIC and legal costs.
Historical extract vs current
A current ASIC extract (free or paid) shows the current position. A historical extract (available for a small fee) shows the company's officer history in full, including all previous directors and addresses. This is useful if you suspect the company has been restructured or if you want to investigate the director history in detail.
What ASIC Connect does not show
ASIC Connect does not show the company's financial position, bank accounts, payment history or registered security interests (these are on the PPSR). For a fuller picture, combine the ASIC search with a PPSR search and a credit report from a commercial provider.
If the ASIC search reveals that a debtor is under external administration or has been deregistered, contact Merion immediately — the steps required depend on the type of insolvency event and timing matters.