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As long as you overcome the PSI rules.

Or legal advice on the deregistration of the company. This is done under the Corporations Act.

Voluntary deregistration. No negatives. You can do it yourself for free or engage a lawyer. You must remove the trustee before it is deregistered.

You could change trustees and wind up the company.

If it was a trading business then the trustee could still be sued over previous dealings. The risk will depend on what it had done in the past.