National business names legislation to commence 28 May 2012
It’s official – with the successful passage of the necessary referral legislation through all states and territories, the new national business names legislation is expected to commence on 28 May 2012.
The Government initially announced on 21 March 2012 on the www.business.gov.au website that all states and territories had passed the necessary referral legislation, but as it turns out, that announcement was slightly premature. In the final state to pass the legislation (Western Australia), the Business Names (Commonwealth Powers) Bill passed the Legislative Council (upper house) on 21 March 2012, but because the Bill originated in the upper house, it still had to be approved by the Legislative Assembly (lower house).
Those breathlessly awaiting the introduction of the new scheme need not worry any longer though – the Bill passed the WA Legislative Assembly on 29 March 2012, and now only awaits Royal Assent and proclamation.
For more information on the new national business names regime, see Regulatory Guide 235: Registering your business name, released by ASIC on 1 March 2012, or refer to our earlier posts here, here, here and here.