One-stop-shop for business name registration

Summary: 
A new Bill proposes a national system for business registration where businesses will only need to register once. If passed it will commence in the first half of 2012.

Presently if your business operates within Australia you will need to register your business in every State and Territory where you want to trade. The Bill proposes a national system for business registration where businesses will only need to register once, commencing in the first half of 2012. This system will not only be easier for businesses, but for consumers who will more easily be able to identify you or your company name through a national public register. 

 

You will be able to register online and obtain confirmation almost immediately, but will need to have a current ABN or in the process of obtaining and not having been refused an ABN. If your business does not have an ABN there will be an option to register for one before completing the business name registration. There will be links to trade mark and domain name searches, making the process much simpler. If the online system rejects your chosen business name, a reason will be given immediately advising you to choose another name and proceed with the application. You do however have the option of appealing the rejection within 28 days.

 

Additionally fees for registration will be significantly lower in most instances, and businesses will have the option to renew their registrations for one or three year periods. The registration process will be managed by the Australian Securities and Investments Commission (ASIC).

 

Existing registered State and Territory business names will be transferred to the national system. Where similar names have been registered in different States and Territories, ASIC may insert marks or expressions on the register to distinguish different businesses.

 

The consultation period has now ceased. We are following the outcomes of this Bill, and will inform you of any developments.

 

This publication covers legal and technical issues in a general way. It is not designed to express opinions on specific cases. This publication is intended for information purposes only and should not be regarded as legal advice. Further advice should be obtained before taking action on any issue dealt with in this publication.