ASIC insolvency statistics update

  Australian Securities and Investments Commission (“ASIC”) has released the following summary and observations after a review of statutory reports lodged by liquidators, receivers and voluntary administrators for the year ending 30 June 2016. • 10,078 external administrator reports were lodged, with NSW accounting for 38.2%. • Of those, 79% related to companies with less…

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New national business names legislation replaces current state systems

  From 28 May 2012, the regulation and administration of business names throughout Australia will shift from the current state and territory based system to a national system regulated by the Australian Securities and Investments Commission. The new national scheme will introduce a number of efficiencies into the business name regime in Australia, including: one…

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