Currently before the Senate is the Business Names Registration Bill 2011, which aims to establish a nationwide business name registration system that will be administered by the Australian Securities and Investments Commission (ASIC). This Bill forms part of the National Business Names Registration Package which includes the Business Names Registration (Transitional and Consequential Provisions) Bill 2011 and the Business Names Registration (Fees) Bill 2011.
At present, each State and Territory have their own system for registration of business names however, this scheme will allow a company to register its name only once no matter how many jurisdictions it operates in. Each company must register their business name and include the name in written communications to ASIC detailing the commercial dealings of the company. Existing businesses will remain the same name once it has been transferred to the national system. For duplicate names already registered, ASIC may apply a geographical identifier as noted on the Register.