Consultation is now open on the Australian Government’s proposed changes to business name registrations. As part of the Australian Business Number (ABN) Business Names Registration Project, the Government is providing funding over four years to develop a national online registration process for ABNs and business names, including trade mark searching. The new system is expected to commence in 2011.
Some key features of the new system include:
- The establishment of a national business name registration system. New businesses will be required to register under this system unless trading under their own personal names. Current business names registered with state and territory agencies will be automatically rolled into the new system.
- New business name registrations will require an ABN and applicants will be able to apply for an ABN at the same time as registering a name.
- Some business names, such as those which are too similar to a current name or are considered misleading, will not be able to be registered.
- A business name may be cancelled at any time by either the business name holder or the Australian Securities and Investments Commission (ASIC), providing appropriate notice is given.
- New review and appeal procedures will allow applicants and third parties to request reviews of decisions made by ASIC, and if necessary appeal decisions through the Administrative Appeals Tribunal.
You can have your say on the proposed changes until 27 June 2010. For more information or to provide feedback, visit the Department of Innovation, Industry, Science and Researchwebsite.
To have your say on many other new policies and regulations that may affect your business, visit the Business Consultation website.
