Document ID: chunk:federal_register_of_legislation:C2024C00518:clause:1_16
Version: federal_register_of_legislation:C2024C00518
Segment Type: clause
Provision Reference: sch 1 cl 16
Character Range: 26944–28215

16  Correcting the Business Names Register where information available on transition deficient
(1) This item applies if:
 (a) a business name is registered under this Act to an entity or entities; and
 (b) ASIC is satisfied that, because of a deficiency in the information available to ASIC before registration:
 (i) the business name has not been registered to the correct entity or entities; or
 (ii) a detail entered on the Business Names Register in relation to the registration under this Act is incorrect.
(2) ASIC must correct the Business Names Register.
(3) Without limiting subitem (2), ASIC may, for the purposes of correcting the Business Names Register under that subitem:
 (a) add one or more registrations; or
 (b) remove one or more registrations; or
 (c) change the details entered on the Business Names Register in relation to one or more registrations.
(4) If ASIC corrects the Business Names Register, it must give notice of the correction made to:
 (a) each entity to whom the business name was registered before the correction; and
 (b) each entity to whom the business name is registered after the correction; and
 (c) if a detail in relation to a person is changed and that person would not receive notice under paragraph (a) or (b)—that person.