National Business Name Register

On 28 May 2012, a new ASIC operated National Business Names Register (NBNR) comes into effect, replacing the current State and Territory based registers. Currently only one search type and extract is available from each State and Territory, with each State's and Territory's extract providing similar information on the business name and proprietor. The NBNR will offer new searches and extracts with varying degrees of information.

Existing business registrations will be migrated to the NBNR from all State and Territory registers and will be available for searching.

New business name registrations will require an ABN and will not be issued a Business Registration Number (BRN).Latest update from ASIC:

• The new register will include identical business names registered in different states and territories, by the same or different people. The state or territory of registration will be visible.
• The new register may contain different information than previous state and territory registers. For example:
• • Only principal place of business, and a service address will be shown. ASIC will not collect or display details of all of the trading places for a business name.; and
  • Some states and territories only permitted legal entities to hold a business name, whereas ASIC will allow unincorporated entities that are entitled to hold an ABN, including partnerships, trusts and joint ventures.
• Some data migrated to the new register was of poor quality or missing and may not appear, or may appear in an unexpected fashion. For example, there are some missing dates and address fields, and some data has been notionally assigned by ASIC.
• Some older data, such as addresses for cancelled (also known as deregistered) business names, will be missing for a short period.
• Some data migrated into the new register does not meet standard ASIC rules - largely due to the inconsistencies in legislation and processes. For example, a PO Box may be recorded in the service address field, notwithstanding that the requirement is for a physical street address.
• ASIC will work to correct these data issues over time.

 

Veda is trying to minimise the impact to customers and we will be providing more information as we receive it.

If you have any questions please or require more information, please contact the Veda Customer Service Team on 1300 921 621 or your Veda Account Manager.