Commonwealth Consolidated Acts Commonwealth Consolidated Acts(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.