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Company and corporateCommonwealthMinimum retention

Books in external administration

How long should Australian businesses keep books in external administration, and when does the clock start?

Keep for5 years
Clock startsThe external administration ends
Applies toExternal administrators (liquidators, administrators)

General information, not legal advice or permission to destroy a record. Coverage may be incomplete or out of date. Check the official text, other applicable obligations and any investigations, disputes or legal holds before disposal. Get advice for your situation. Terms of use.

Under the Corporations Act 2001, external administrators (liquidators, administrators) must keep books in external administration for at least 5 years. Clock starts: the external administration ends.

The books of the company and of the external administration held by the external administrator.

2 provisions of the Corporations Act 2001 apply to these records. Each one is set out below.

The terms

IPS s 70-35(1)Corporations Act 2001
5 years
from the end of the external administration
IPS s 70-10(1)Corporations Act 2001
No period stated
Start not stated

Conditions and exceptions Caution

These provisions are in the Insolvency Practice Schedule (Corporations), Schedule 2 to the Corporations Act.

From the provisions:

  • Books must be relevant to affairs of the company
  • Books must be in the external administrator's possession or control at the end of the external administration
  • Does not apply if the external administrator has a reasonable excuse (subsection (2))
  • Books may be destroyed within the retention period with ASIC's consent per the process in subsection (3)
  • Does not apply for a winding up of a sub-fund of a CCIV (see section 1237P) for subsections (3) and (4)
  • Does not apply if the external administrator has a reasonable excuse (subsection (3))
  • Reasonable excuse under subsection (3)

The law

Corporations Act 2001, IPS s 70-35(1) · Retention and destruction of booksOfficial text ↗
The last external administrator of a company must retain all books of the company, and of the external administration of the company, that: (a) are relevant to affairs of the company; and (b) are in the external administrator's possession or control at the end of the external administration; for a period (the retention period) of 5 years from the end of the external administration.
Text as at 19 September 2026
Corporations Act 2001, IPS s 70-10(1) · Administration booksOfficial text ↗
An external administrator of a company must keep proper books in which the external administrator must cause to be made: (a) entries or minutes of proceedings at meetings relating to the external administration of the company; and (b) such other entries as are necessary to give a complete and correct record of the external administrator's administration of the company's affairs.
Text as at 19 September 2026
Corporations Act 2001IPS s 70-35(1), IPS s 70-10(1) · Federal Register of Legislation
Legislation ↗
ASICOfficial guidance
Guidance ↗

Other terms that apply to these records

This page covers books in external administration on their own. The same file is often caught by other laws as well, with different periods and start dates. See why a legal term is not a schedule.

3 records. 3 sets of rules. They don't agree.

One business file can hold all of these at once.

Books in external administration5yCorporations Act 2001, IPS s 70-35(1), IPS s 70-10(1) · the external administration ends
Company books after deregistration3yCorporations Act 2001, s 601AD(5) · deregistration
Company financial records7yCorporations Act 2001, s 286(1)–(2) · the transactions are completed

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