Tried to transfer a business name for a client today. However, earlier this month the business names register was changed from the states to a central national register maintained by ASIC. As part of the process, each business name has been given a new ASIC KEY - an identifying number - and we need this to deal with ASIC. However, the only people who know this key are ASIC. So we have to set up an account with them (as well as the one we have for dealing with companies) to enable us to apply to them to be told the key so we can then deal with the company name!!
This is crazy enough but I cannot believe we have invented another number. Now a company is likely to have 5 different numbers for dealing with 2 government departments. They are:
1. Tax File Number
2. ABN
3. ACN (Australian Company number)
4. Corporate Key (for dealing with ASIC)
5. ASIC Key (for dealing with ASIC in relation to business names).
No wonder we need so many public servants to keep track of this.
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