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 'B'
- Banned credit person
A person who has been banned from engaging in credit activities.
- Banned futures representative
A person that was banned from holding proper authority to act as a futures representative. This is a role that existed prior to the financial services reform in 2002 and no longer exists.
- Banned securities representative
A person that was banned from holding proper authority to act as a securities representative. This is a role that existed prior to the financial services reform in 2002 and no longer exists.
- Banned/disqualified person
A person who has been disqualified from managing a corporation, or banned from practising in the financial services or credit industry.
- Business (Business names/SMSF auditors)
An entity that is registered with ASIC (e.g. a business name or a SMSF auditor).
- Business Enterprise Centre (BEC)
A nationwide network of Business Enterprise Centres that are recognised as a point of contact for small business operators seeking business information, advice and guidance. For further details, refer to the Business Enterprise Centre (BEC) website.
- Business name
A name used, or to be used, in relation to one or more businesses.
- Business name availability
A business name is available to be registered by an entity if it successfully passes the business names availability tests. See also: Business name availability rules.
- Business name availability rules
The rules that will be applied to determine whether a proposed business name is available to be registered. For further details refer to the business names availability tests. See also: Check name availability.
- Business name extract
A copy of an entry or entries in the Business Names Register. ASIC provides, for a fee, a document containing information extracted from the Business Names Register relating to a business name or an entity. This can be an electronic record in PDF or XML format.
- Business name holder
The entity to which a business name is registered.
- Business name record of registration
A record of registration issued by ASIC to a business name holder on successful registration of a business name. It contains a summary of the details that are recorded on the Business Names Register about that business name. The first page of a record of registration looks like a certificate. Subsequent pages include the details provided to ASIC.
- Business name registration application refusal
An ASIC decision to refuse an application to register a business name. The application will be refused when the proposed business name is not available, the proposed business name holder is disqualified from holding a business name, the registration fee is not paid within the required time, or an ABN (or ABN reference number) is not provided.
- Business name renewal
The process whereby a business name holder elects to renew the registration of a business name, for a period of 1 or 3 years, by paying the renewal fee appropriate to that period.
- Business Names Register
The national register of business names registered in Australia by ASIC under the Business Names Registration Act 2011. The register is available for public searching and enables the public to identify the entity carrying on a business under a business name and its contact details.
- Business Names Registration Act 2011
A Commonwealth Act in relation to business names that provides for the establishment and maintenance of a national Business Names Register.
- Business names regulator (ASIC)
The government agency (ASIC) responsible for administering the Business Names Register under the Business Names Registration Act 2011.