The future Australian Securities & Investment Commission (ASIC) business name register is expected to go live on 28 May 2012, subject to the passage of legislation through state parliaments. The new register will allow businesses to register their name nationally through a single registration service, rather than registering separately in each state and territory they operate in. Existing business name holders will have their registrations transferred automatically and will be issued with renewal reminders after the new services commences. Whilst there is welcomed as a reduction in red-tape, there may be some initial problems e.g. if the same name is owned by different proprietors in different states. Expect more.
15th-March-2012 | 