Document ID: chunk:federal_register_of_legislation:C2024C00518:clause:1_3
Version: federal_register_of_legislation:C2024C00518
Segment Type: clause
Provision Reference: sch 1 cl 3
Character Range: 11337–13779

3  Business names registered in relation to a group of persons before the change‑over day
(1) This item applies if:
 (a) ASIC is given notification in relation to a business name and a person under item 1; and
 (b) the person carries on a business, or intends to carry on a business, under the name in association with one or more other persons.
(2) On the change‑over day, ASIC must register the business name to:
 (a) if the group of persons carrying on the business, or intending to carry on the business, has formed an entity to do so—the entity; or
 (b) if the group of persons carrying on the business, or intending to carry on the business, has not formed an entity to do so—the group of persons.
(3) If the business name is registered to a group of persons under paragraph (2)(b):
 (a) each of those persons is a joint venture entity for the purposes of section 87 of the Business Names Registration Act; and
 (b) the group is a joint venture for the purposes of section 87 of the Business Names Registration Act.
Note: Section 87 of the Business Names Registration Act sets out rules for treating joint ventures in the same way as entities.
(4) ASIC registers the business name by entering in the Business Names Register:
 (a) details sufficient to identify the entity or group of persons, including (if ASIC has the information):
 (i) in a case where the business name is registered under paragraph (2)(a)—the entity's ABN; and
 (ii) in a case where the business name is registered under paragraph (2)(b)—the ABN of each person within the group; and
 (b) the business name; and
 (c) the address of each principal place of business of which ASIC is aware; and
 (d) each address for service of documents of which ASIC is aware; and
 (e) the period for which the business name is registered.
(5) The period for which the business name is registered is the period:
 (a) beginning at the start of the change‑over day; and
 (b) ending on the last day on which registration of the business name to any member of the entity or group would have expired under the registration law of a referring/adopting State or an affected Territory in which the business name was registered in relation to the member immediately before the change‑over day.
(6) The Business Names Register may include any other details prescribed in relation to registrations under this item.

Part 2—Business names held on change‑over day to resolve outstanding matters