If ASIC has cancelled your business name within the last 6 months, due to failure to pay the renewal fee, then you must apply directly to have the business name restored. (Please note you cannot restore a business name where the holder directly applied to cancel the business name)
For these 6 months after the name has been cancelled, ASIC will not allow anyone else to register the name, instead keeping it reserved for you to have restored.
The restoration process involves sending a general enquiry form to ASIC to ask for restoration to occur. In this enquiry you should include:
- The business name
- The details of the business name holder
- Email address
- Phone number
ASIC will then send you an email, generally within 24-48 hours, with a unique BPAY reference and the amount due for the name to be fully restored. Once payment has been received it can take up to 28 days for restoration to occur, yet often this takes place in a much shorter timeframe.
If ASIC cancelled your business name over 6 months ago, then you must submit a fresh business name application. It is important to ensure that the name is still available at this point, as once 6 months have passed since the cancellation of your former business name, it becomes publicly available again.
You can apply to register a business name via the EasyCompanies platform. Please contact customer support if you require assistance with this process.
This information is of a general nature only and does not constitute professional advice. You must seek professional advice in relation to your particular circumstances before acting.
Updated — Apr 3, 2017