ASIC has announced that the new ASIC business names register is expected to go live on 28 May 2012. From that date ASIC will nationally register and maintain business names and provide search facilities.
Business names will no longer be required to register separately in each state and territory they operate in. The registration fee will be $30 for one year or $70 for three years.
All existing registrations will be transferred to the new business name service automatically.
Following the start of the new service on 28 May 2012, ASIC will issue renewal reminders to all existing businesses with registered business names.
As registration of a business name will require an Australian Business Number (ABN), a joint online application for an Australian Business Number (ABN) and national business name registration will need to be completed.
The registration of a business name under this legislation will not give rise to any proprietary rights over that name; that will still require registration of a trade mark.