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Business Names Registration Bill 2011

Part 6 Renewing the registration of a business name

   

55   Application to renew registration

             (1)  An entity may renew the registration of a business name to the entity for a period of 1 year or 3 years by lodging the renewal fee appropriate to that period with ASIC.

             (2)  An entity may lodge an application with ASIC to have the registration of a business name to the entity renewed for an alternative registration period.

             (3)  The application:

                     (a)  must be in the prescribed form; and

                     (b)  must be lodged in the prescribed manner; and

                     (c)  must specify the period for which renewal is sought; and

                     (d)  must be accompanied by the renewal fee appropriate to the period sought.

             (4)  ASIC may determine an alternative registration period for the renewal of the registration of a business name to an entity if:

                     (a)  the entity is a company; and

                     (b)  the alternative registration period would align the day on which the registration period for the registration of the business name to the company would expire with the company’s review date, as defined for the purposes of the Corporations Act 2001 .

             (5)  ASIC may determine an alternative registration period for the renewal of the registration of a business name (the renewed business name ) to an entity if:

                     (a)  another business name (the other business name ) is registered to the entity; and

                     (b)  the alternative registration period would align the day on which the registration period for the registration of the renewed business name to the entity would expire with the day on which the registration period for the registration of the other business name to the entity would expire.

             (6)  A determination under subsection (4) or (5) must be in writing, but is not a legislative instrument.

             (7)  However, an alternative registration period must be:

                     (a)  if the registration period would otherwise have been 1 year—of no more than 18 months; and

                     (b)  if the registration period would otherwise have been 3 years—of no more than 3 years and 6 months.

             (8)  An entity may:

                     (a)  renew the registration of a business name to the entity under subsection (1); or

                     (b)  make an application under subsection (2);

no earlier than 2 months before the expiry of the registration period for the business name.

             (9)  The period of registration on renewal begins immediately after the end of the immediately preceding registration period.