What if the company name I want to register is identical to a business name, but the holders of the business name are not involved in the company?
In order for ASIC to register a company name that's identical to a business name, all of the holders of that business name need to be involved in the company as either director or shareholder. (In the instance that the business name is owned by a trust, all trustees must be director or shareholder in the proposed company and we need to provide ASIC with a copy of the trust deed).
You can either include the business name holders in the company as directors/shareholders OR change the holding of the business to be held by a director/shareholder of the company.
To change the holder of a business name, you must complete a business name transfer. You cannot change the holder of a business name by updating the holder details.
To complete a business name transfer through ASIC, you will need to:
- log in to your ASIC Connect account and make sure your business name is linked to the account.
- once you’re logged in, select the 'Lodgements & Notifications' tab at the top of the screen.
- then select the radio button next to the business name you wish to transfer and select 'Cancel/Transfer Business Name' to start the transaction.
You will receive a transfer number from ASIC; you will need to provide this to the new business name owner so they can register the business name.