Question
Why should ASIC forms be lodged individually?
Answer
When forms are lodged at the same time, this can cause record discrepancies or form rejections with ASIC.
Especially when changes are requested that involve the same Officeholders or Shareholders that are relevant in the other lodged form/s.
For example if one form is intended for ceasing an Officeholder and another form is intended to transfer shares, however both are lodged at the same time, ASIC may first process the cessation of Officeholder.
If this ceased Officeholder is a signatory for the Transfer of Shares form, this form would be rejected, if processed after the cessation.
This means the form would need to be amended to update the signatory and new signatures may be required for lodgement.
To prevent similar issues from occurring, it is strongly recommended to lodge each form individually in the correct order. This means waiting for successful lodgement prior to lodging the next form.