- The company’s debts cannot exceed $1,000,000.00 which includes amounts relating to termination of employees (including prior to termination);
- The company will not be able to pay its debts in full within 12 months of the start of liquidation;
- The company has to be up to date with the lodgement of all returns, notices, statements, applications or other documents that are required by taxation laws;
- The company cannot have been under restructuring or the subject of a simplified liquidation in the past 7 years; and
- Current and recent directors cannot have been the director of a company that has been under restructuring or the subject of a simplified liquidation in the past 7 years.