How to reserve a Company Name via NowInfinity? How long does a 410 Company name reservation last?
There are 2 ways to reserve a Company Name via NowInfinity:
- Through Menu > Create Document
- Through Menu > Companies
This option can only be used if you are using NowInfinity's Corporate Messenger module, and you are wanting to reserve a new Company name for an existing Company.
Open the full Company Profile, and hover over the "Company Name" menu:
You can select to reserve a new name for the Company, or extend an existing Company name reservation already in place.
ASIC will reserve the name for a period of 2 months from the date of approval. If you wish to extend this period, you will need to apply to reserve the name again. ASIC will not reserve a name for a long period as this may prevent other people from using the name legitimately.
More information please visit ASIC: Reserving a company name
If the name being reserved is an existing business name
For a company to use a name which is an existing business name, there are additional steps required as part of the name reservation form:
- On the "Proposed Company Name to be Reserved" page, you will need to specify that an existing business name is being used and enter the ABN of the business name owner.
Select "Yes" for the question- "Is the proposed company name an existing business name":
- The owner of the business name must be an appointed member of the Company.
If the owner is an Individual they need to be appointed as both a Director and Shareholder of the Company.
If the owner is a Partnership, both partners need to be recorded as a Director and Shareholder of the Company.
If the owner is a Trust, each Trustee needs to be appointed as a Director or Shareholder.
If the owner is a Company, the Company must be a corporate Shareholder.
- On the Authorisation and Declaration page, where an existing business name is used, select "I want this application to be processed manually by ASIC". In the text box write "The owner of the business name XYZ, is both a director and shareholder of the company which will be using this name ACN xxx xxx xxx", (or whichever applies as per step 2 above).
If the owner is a Trust, you must also email ASIC a copy of the Trust deed. Advise ASIC in this text box that you have emailed a copy of the Trust deed to firstname.lastname@example.org for them to refer to: