Document ID: chunk:federal_register_of_legislation:C2024C00631:section:47
Version: federal_register_of_legislation:C2024C00631
Segment Type: section
Provision Reference: s 47
Character Range: 79253–80347

47  Cancellation—entity not carrying on a business under the business name
 (1) ASIC may cancel the registration of a business name to an entity if:
 (a) ASIC is satisfied that:
 (i) the entity is not carrying on a business under the business name; and
 (ii) the entity has not, in the immediately preceding period of 3 months, carried on a business under the business name; and
 (b) the entity is not a government body; and
 (c) ASIC is not satisfied that there are exceptional circumstances justifying the failure to carry on a business under the business name during that 3 month period.
 (2) ASIC must, at least 28 days before cancelling the registration, give notice in writing to the entity:
 (a) informing the entity that ASIC intends to cancel the registration; and
 (b) inviting the entity to give ASIC evidence that:
 (i) it is carrying on, or has within the immediately preceding period of 3 months carried on, a business under the business name; or
 (ii) there are exceptional circumstances justifying the failure to carry on a business under the business name during that period.