While registering a company with ASIC, applicant may choose a name for the company and if a name is not chosen and specified in the application for registration of the company, the ACN (Australian Company Number) assigned to the company will be the name of the company.

Before deciding on the company name, there are certain things to be considered which are highlighted below -

(a) a company name cannot be identical to the name of a already registered company, a registered foreign body, a registered business name, a reserved company name;
(b) the company name must not be prohibited under the Schedule 6 of Corporations Regulations
(c) the company name should not be misleading or deceptive or regulated by another law

How to reserve a company name?

If the applicant wants to have a company name for his proposed company but is not ready to register the company, can reserve the company name with ASIC for a period of two months.

Extensions are available to an Applicant and must be made before the expiration of the original reservation. The first application for an extension of a further two month period can be made by lodging another ASIC Form 410 and paying an additional fee. For subsequent extensions, a letter explaining the reasons for the extension will generally be required.

For reservation of company name with ASIC, the Applicant must complete and lodge with ASIC, an ASIC Form 410. ASIC forms may be lodged in person at an ASIC Business Centre, by post or can be lodged online. A lodgement fee is payable.

What information is required for application for reservation of company name with ASIC?

The following details are required for reservation of company name:
(a) the name to be reserved;
(b) the type and class of company;
(c) the name and address of the applicant; and
(d) the purpose of the reservation of the name.

The following details are required for extension of reservation of company name:
(a) the reservation number; and
(b) the reason for the extension (for example, shareholder approval of a change of name of the company will be sought at the annual general meeting of the company).