Business Names Registration (Minister) Delegation 2019

Overview

The Business Names Registration (Minister) Delegation 2019I, issued under the authority of Stuart Robert, the Assistant Treasurer, on 9 January 2019, serves to streamline and clarify the delegation of certain functions and powers under the Business Names Registration Act 2011. This instrument revokes all previous delegations made under subsection 80(1) of the Act and specifically delegates the functions and powers outlined in subsections 27(2), 28(2), and 32(3) of the Act to specified individuals within the Australian Securities and Investments Commission (ASIC). The objective of this delegation is to ensure that the relevant authorities can efficiently manage and oversee the registration and administration of business names, thereby enhancing the regulatory framework's effectiveness. This action by the Assistant Treasurer aims to provide clear direction and accountability in the enforcement of business name regulations, aligning with the broader policy objective of maintaining a transparent and compliant business environment in Australia.

Scope and Application

The Business Names Registration (Minister) Delegation 2019I, issued by Stuart Robert, Assistant Treasurer, under subsection 80(1) of the Business Names Registration Act 2011, pertains to the delegation of specific ministerial functions and powers to certain officers within the Australian Securities and Investments Commission (ASIC). This legislation revokes all previous delegations made under the stated subsection and assigns the responsibility to particular roles within ASIC, namely the ASIC member, Senior Executive Leader, and Executive Director, Operations. This delegation ensures that these individuals can exercise the powers under subsections 27(2), 28(2), and 32(3) of the Act, thereby streamlining the administration and enforcement of business names registration requirements. The geographic and jurisdictional reach of this Act applies across the Commonwealth, affecting businesses and entities registered under the Act nationwide. The Act does not explicitly state any exclusions, exemptions, or thresholds; however, the scope of its application may be further defined or restricted through subordinate instruments issued under the authority of the Act.

Key Provisions

The main operative sections of the Business Names Registration (Minister) Delegation 2019I involve the revocation of all previous delegations under subsection 80(1) of the Business Names Registration Act 2011 (the Act) and the delegation of specific functions and powers to certain officials within the Australian Securities and Investments Commission (ASIC). Specifically, the delegation extends to the ASIC members, the Senior Executive Leader (position number 6306), and the Executive Director, Operations (position number 6339). These provisions are outlined in sections 27(2), 28(2), and 32(3) of the Act, respectively. Under the Act, the Assistant Treasurer, Stuart Robert, has imposed certain obligations and requirements on the designated officials within ASIC. These officials are entrusted with the authority to perform specific functions and exercise powers related to the registration and regulation of business names. The delegation ensures that these officials can effectively carry out their duties, including the processing of applications, the issuance of certificates, and the enforcement of the Act’s provisions. In terms of compliance and enforcement, the Act imposes civil and criminal consequences for breaches. The specific penalties for non-compliance can include fines and, in some cases, imprisonment. While the maximum penalties are not detailed within the text of this delegation, they are typically outlined in the principal Act or related legislation. It is essential for the designated officials and other stakeholders to adhere to the Act’s requirements to avoid any potential legal repercussions. The delegation aims to streamline the administrative processes and ensure that the regulatory framework governing business names in Australia is effectively implemented and enforced.