Expired but renewable business names
15 Expired but renewable business names
s. 15
For the purposes of item 4 of Schedule 1 to the Commonwealth Transitional Act, the Director must notify ASIC that an expired but renewable business name is to be held.
Despite the commencement of Part 3, on and after the change-over day a person may make an application for a determination under subsection (3) to renew the registration of an expired but renewable business name within 2 months after the sending of a notice under section 11(3) of the 1962 Act in respect of the registration or within 2 months after the expiry of the registration, whichever is the later date.
Despite the commencement of Part 3, after the change-over day the Director may determine whether or not the registration of an expired but renewable business name which is the subject of an application under subsection (2) would be renewed under the 1962 Act if the 1962 Act were still in operation.
For the purposes of item 6 of Schedule 1 to the Commonwealth Transitional Act, if the Director determines under subsection (3) that the registration of an expired but renewable business name would be renewed, he or she must notify ASIC that the business name is to be registered on the National Business Names Register.
For the purposes of item 8 of Schedule 1 to the Commonwealth Transitional Act, if—
an application to renew the registration of an expired but renewable business name is not made under subsection (2) in the time specified in that subsection; or
the Director determines under subsection (3) that the registration would not be renewed—
the Director must notify ASIC that ASIC is to cease to hold that business name.
In this section, expired but renewable business name means a business name in respect of which—
registration on the Victorian Register has expired before the change-over day; and
a person would be entitled to lodge an application for the renewal of registration on or after the change-over day under section 11(1) of the 1962 Act, if that Act were still in operation; and
an application for renewal of registration has not been lodged under the 1962 Act before the change-over day.
This Act’s bill:Explanatory memorandumSecond reading speech
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.