InFocus May 2019 - Volume 28 Issue 4

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ASIC registered agent compliance program now underway - are you at risk of being cancelled?

In last month’s edition of InFocus, we spoke about the new ASIC Registered Agent Terms & Conditions (T&Cs).

We are now in the process of identifying agents who do not meet the requirements outlined in the T&Cs. So far, over 5,500 registered agents have had their agent status cancelled for not meeting their obligations.

The most common issues we are seeing are lack of lodgement activity or failure to meet the ongoing eligibility criteria.

If you are an ASIC registered agent and wish to continue in that role, please check you are meeting the requirements in the T&Cs.

The T&Cs govern use of ASIC registry services. They describe the rights and responsibilities of being a registered agent including the eligibility criteria to be a registered agent and grounds on which ASIC may cancel a registered agent status.

For more information about the T&Cs, visit our website.

If you have a question about the T&Cs, send it to termsandconditions@asic.gov.au.

Top tips for using our online services

Tip #1

Including attachments when you lodge documents.

Sometimes, when you’re lodging forms online or submitting an online enquiry with us, you need to provide an attachment.

Here are a few things you should know when providing an attachment:

  • up to five attachments are allowed per lodgement. They should be in TIFF (.tif/.tiff), PDF (.pdf) or RTF (.rtf) format
  • the largest file size that you can attach varies between forms. For most forms, it can be up to 10 MB. File sizes vary depending on the type of file being used. Some files provide the user with the option of reducing the file size. For information on reducing the file size, refer to your software support
  • for security reasons, we will reject any PDF documents containing encrypted data, active content (e.g. JavaScript, PostScript), and attached objects or executables. We will also reject word-processing and spreadsheet documents.

For more information about including attachments when you lodge with us, visit our website.

Tip #2

You can get copies of documents you’ve lodged from your online account.

Company officeholders and ASIC registered agents can access copies of documents they've previously lodged for up to 90 days. Simply log into your online account and select ‘Forms submitted’ from the left-hand menu.

If you’d like to access a document that was lodged more than 90 days ago, you can purchase a copy by searching our registers.

Tip #3

ASIC registered agents: check both your online accounts regularly.

A reminder for registered agents to regularly check your EDGE and ASIC online service accounts.

Company Annual Statement Packs (ASP) will be sent through both channels.

If you collect the ASP from your EDGE software first, the ASP will also still be available in your online service account inbox. However, if you collect the ASP from your online service account first, the ASP will not be available through your EDGE software.

Find out more about where a company’s ASP is sent on our website.

Tip #4

Business name applications are case sensitive! What’s entered on the application is exactly what will appear on the register.

Sometimes, business names may appear on the register in all CAPITAL LETTERS when registered through the Business Registration Service or a Private Service Provider.

However, a business name can be displayed in any manner, as long as the characters used are identical to the name that appears on our register.

This means business name holders can display the business name in any font, casing or size of the character they choose.

Find out more about registering a business name on our website.

For more helpful information about lodging online, visit our FAQs for online services.

Upcoming events

ASIC Annual Forum 2019

16 - 17 May 2019

Hilton Sydney

Join us for the 24th ASIC Annual Forum. The Forum will bring together thought leaders from Australia and around the world to explore the theme of ‘Other people’s money’.

For more information, visit our website.

Queensland Small Business Week (QSBW) 2019

27 - 31 May 2019

QSBW celebrates the small businesses who make a vital contribution to Queensland’s economy and communities.

QSBW events aim to give small business owners the opportunity to learn new skills and gain new ideas and tools to take their business to the next level.

Visit business.qld.gov.au for more information about attending and holding an event during QSBW.

Logan Business Links

30 May 2019

ASIC is taking part in the Logan Business Links event organised by the Logan Office of Economic Development.

Business owners, professionals and community are invited to join this networking event where more than a dozen representatives from government agencies and local organisations will be available to small business.

The event is being delivered as part of the Queensland Small Business Week 2019.

For more information visit loed.com.au/sbw.

Government Business Education Network (GBEN), City of Melbourne

19 June 2019

Join us at the Kathleen Syme Library, Carlton for GBEN.

Business advisors, together with representatives from local, state, and federal government agencies (including ASIC) will be available to answer your questions and provide information about the programs, grants and resources that can help your business.

You can register here

Last updated: 16/05/2019 10:44