Glossary of Terms
Disclaimer: Terms in this glossary are provided for general information only and should not be taken as constituting professional advice from the website owner – the Australian Securities and Investments Commission (ASIC).
The words in brackets do not form part of the term. Where 'Business names' and/or 'SMSF auditors' appears in brackets alongside a term, this denotes the definition is only to be used in reference to the relevant register. These terms do not apply to any other ASIC services.
Viewing entries beginning with 'U'
- Undesirable names (Business names)
A business name that is unavailable for registration as it contains a word or expression that is considered undesirable for the purposes of the Business Names Registration Act 2011.
- Unincorporated body
Any organisational or financial structure that is not an incorporated body, individual or partnership (e.g. a trust, a fund or a club).
- Unknown word to ASIC (Business names)
A word in a proposed business name that is not known to ASIC. An application containing an unknown word will be manually considered to ensure it does not contain a potentially undesirable word, expression or restricted words. ASIC considers unknown words as those not included in the Macquarie Dictionary and words made up of a combination of letters, characters, symbols and numbers.
- Update business name details
A transaction to update, change or maintain business name details on the Business Names Register. For example, changes to business name holders, changes to business addresses and business name cancellations.
- User account (ASIC Connect)
An account is created when an individual signs up to ASIC Connect before starting a transaction. To create a user account, a person provides ASIC with their email address (username), a password, security question and contract details.