Photo credit: Gemma Evans, Unsplash
Did you know that there are rules set by Australian Securities and Investments Commission (ASIC) for your company’s registered office and place of business?
Below, I'll take you through those rules.
It's important to know the rules because a breach can be a strict liability offence.
So what exactly does this mean?
It means that a particular offence can be prosecuted even if you did not intend to break the rule.
Your company must have a registered office in Australia.
Communications and notices to your company are sent to its registered office.
And anyone can serve a document on your company by leaving it at or posting it to your company's registered office.
Also, communications and notices from ASIC may also be sent to your company's contact address.
Next, we'll go through the contact address rules.
Your company may have a contact address (and it can be outside Australia).
Also, communications and notices from ASIC to your company may be sent to its contact address.
Now, If you choose to have a contact address, you’ll need to notify ASIC.
There are time limits for telling ASIC about changes like a change of address.
And your company must lodge a notice of a change of its registered office with ASIC within 28 days of the change.
Importantly, you need to notify ASIC using their correct form.
If your company is not going to occupy its new registered office, the notice must state the occupier consents to the address in the notice and has not withdrawn consent.
A typical example is a virtual office situation where a startup may pay a monthly fee to use the virtual office address as the registered office.
In fact, consent is so important that there are strict liability penalties if a company does not get comply.
And a notice of change of address takes effect from the later of: the seventh day after the notice was sent; or a later day specified in the notice as the date from which the change is to take effect.
A company that does not occupy the premises of its registered office address must be able to show to ASIC it has the occupiers consent to use the address.
And ASIC can ask for proof of consent.
Also, if you don't have consent, ASIC may give written notice to a director that ASIC intends to change the address of the company's registered office to the director's address if you don't give a new address within 28 days.
And, If don't meet the 28 day deadline, ASIC may change the address of the company's registered office to the director's address.
A breach of this requirement is a strict liability offence.
Finally, your company must display at any place the company carries on business and that is open to the public.
And, like the other sections above, a breach is a strict liability offence.
Do you have any questions about ASIC's rules for your registered office and place of business?