• Whether your company is compliant refers to whether your company is aware of and complying with the steps needed to follow relevant laws, policies and regulations.
• In our Company Compliance Law Overview we refer specifically to your compliance with the provisions of the Corporations Act 2001 (Cth).
• There may be many other sources of regulation specific to your business depending on:
  • the size of your company;
  • the state or territory where you operate;
  • whether you have an international presence;
  • what industry you are in; and
  • the kinds of operations you undertake.

• The Australian Securities and Investment Commission (ASIC) is an independent Australian government body.
• It acts as Australia's corporate regulator enforcing company and financial services laws to protect Australian consumers, investors and creditors.
• ASIC delivers a wide range of compliance programs aimed at ensuring companies, schemes and various individuals and entities meet their obligations under the Corporations Act 2001 (Cth).
• The ASIC website can be located at http://www.asic.gov.au

• Yes. The Australian Securities and Investments Commission (ASIC) has a helpline. You can phone, contact them online, fax or write to the client contact centre.
• ASIC's client contact centre can be reached as follows:
  • Phone 1300 300 630 within Australia.
  • Phone + 61 3 5177 3988 outside Australia.
  • Fax (03) 5177 3999.
• ASIC's translating and interpreting service can be contacted on 131 450.
• For the deaf, hearing and speech impaired you can contact ASIC through the national relay service helpdesk on 1800 555 660 (TTY 1800 555 630) or http://relayservice.gov.au.
• You can also write to ASIC via the following postal address. Australian Securities and Investments Commission, PO BOX 4000, Gippsland Mail Centre, Victoria 3841.
• ASIC's office hours are Monday to Friday 8:30 am to 5:00 pm (local time) in each State and Territory. ASIC is closed for business on national public holidays. Limited services are available on public holidays for each State and Territory.
• You must be very clear when framing your enquiry. If in doubt you can use the LegalEagle website to Find a Lawyer near you who can assist you with your query.

• The cost of compliance depends on the size, nature and risk profile of your business. It may be as simple as lodging forms on time and ensuring you have a simple process in place to maintain compliance or it may require more formal programs as in the case of financial service providers.
• A compliance lawyer or adviser can help you lodge the forms and do the necessary paperwork.
• It is common for small companies to ask a compliance lawyer or adviser to assist them with their compliance work such as lodging ASIC forms and it proves more cost effective for many small companies do so.
• You can use our free Find a Lawyer directory to contact a lawyer near you.

• You will need a corporate key to lodge documents online and will usually receive the key from ASIC. This key will allow certain officeholders or your compliance lawyer or adviser to lodge paperwork with the regulator on behalf of your company.
• You may be asked to write this corporate key down on any paper form you submit to ASIC. Alternatively you can lodge certain forms online or ask your compliance lawyer or adviser to assist you.

• You will need to notify ASIC within 28 days if any of the following changes to company details occur:
  • the appointment, resignation or retirement of an officeholder;
  • if an officeholder changes their residential address or other address listed with the regulator;
  • when your company changes its registered address or principal place of business;
  • if an officeholder changes their name; or
  • when your company appoints or removes an alternate director.
• You, your company secretary or your compliance lawyer will need to lodge Form 484. ASIC does not charge you for lodging this form but a compliance lawyer or adviser may do so. If you lodge the forms outside of the 28 day period your business will be issued with a fine.
• You must write your corporate key on the form if you use a paper Form 484.

• Yes. Officeholders can notify ASIC on their own behalf.
• A director or secretary may give notice to ASIC of their own resignation or retirement by lodging Form 370 at any time after their date of cessation along with a copy of their resignation letter.
• The officeholder must also notify your company in writing. 

• Yes. You will need to notify ASIC within 28 days if you or your company changes its registered business address or principal place of business.
• A late fee will apply if you lodge outside this timeframe.
• You will need to use a Form 484.
• If you use a paper Form 484 you must write your corporate key on the form.

• Yes. You need to advise ASIC of any change of name.
• You will need to notify ASIC within 28 days. 
• A late fee will apply if you lodge outside this timeframe.
• You will need to use a Form 484.
• If you use a paper Form 484 you must write your corporate key on the form.

• If the officeholder changes their residential address you will need to notify ASIC using Form 484. You will need to notify ASIC within 28 days. A late fee will apply if you lodge outside this timeframe. If you use a paper Form 484 you must write your corporate key on the form.
• In rare instances an officeholder may have requested their address be suppressed from the public. In such circumstances you should talk to the officeholder and seek assistance from your compliance lawyer or adviser as a different process and special forms are required. Different timeframes and late fees also apply.
• You can also refer to ASIC’s Information Sheet 5 - application for suppression of residential address.
• Our free Find a Lawyer directory provides contact details for lawyers who may be able to assist you in this situation.

• Yes. You can change your company name but you must follow the required procedure. There is a process you will need to go through and a compliance lawyer or adviser can assist you here. ASIC fees will apply.
• Our Legal Plan™ membership will allow you to ask lawyers for a Fixed-Fee Quote on your matter.
• The form you will require is Change of Company Name - Form 205.
• You will need to check your company’s constitution and other laws to ensure you can change the company to its new name. Your compliance lawyer or adviser will let you know if you can use the name or if there is some reason restricting or prohibiting you from using the name. The members of the company must pass also a special resolution adopting a new name once you have been advised you can use it.  

• Yes. You will need to lodge a Form 484 to change your company’s registered business address or principal place of business.
• You will need to notify ASIC within 28 days. A late fee will apply if you lodge outside this timeframe.
• You must write your corporate key on the form if you use a paper Form 484.

• Yes. You must lodge a Form 484 and tell ASIC if the address of a member (shareholder) of a proprietary company changes regardless of whether the member is an individual or a company. A post office box address may be used. You must do so within 28 days.
• If your proprietary company has more than 20 members in a share class you will only need to tell ASIC of any changes to the top 20 members addresses.
• If lodging on paper you must include your corporate key.

• You must still notify ASIC by attaching a letter from the company officer or liquidator informing ASIC of the change to the mail delivery address. For example a lot number may now be a street number or a town or suburb may have changed due to alteration of council boundaries. As long as the physical location has not changed you will not be charged late lodgement fees even if the notification reaches ASIC more than 28 days after the change has occurred.

• If you are a proprietary company you must lodge a Form 484 and tell ASIC of any changes to:
  • member details;
  • share allocation;
  • share issue;
  • share cancellation; and
  • change to the share structure.
• If shares are issued under contract then you must use 2 forms. You also must use Form 484 in addition to Form 207Z - certification of compliance with stamp duty law. This form certifies that the company has paid all state and territory stamp duties associated with the written contract.
• All forms must be lodged within 28 days. A late fee will apply if you lodge outside this timeframe. You must write your corporate key on the form if you use a paper Form 484.

• Yes. You need to tell ASIC if a company becomes or ceases to be the ultimate holding company of a proprietary company.
• You will need to use Form 484.
• It must be lodged within 28 days. A late fee will apply if you lodge outside this timeframe.
• You must write your corporate key on the form if you use a paper Form 484.

·         You will also need to look at the company constitution and other documents linked to the constitution to see if it says anything about what decisions you as a director can make.

·         Sometimes the constitution will regulate your behaviour as a director such as in relation to your participation in decision making when a conflict of interest arises.

• Whether you are required to comply with other laws will depend on your particular situation.
• There are likely to be other laws you need to follow as a director such as:
  • workers health and safety laws;
  • anti-discrimination laws;
  • anti-money laundering laws and many others.
• To ensure that you are in full compliance with all laws relating to your company and your relevant industry it is best to speak with your compliance lawyer or adviser who can assist you further.
• Our free Find a Lawyer directory may help put you in touch with the assistance you need.

• The Corporations Act 2001 (Cth) requires the company secretary to undertake the following tasks:
  • maintain a registered office;
  • notify ASIC of the personal details of directors and secretaries and any changes;
  • respond to ASIC queries;
  • notify ASIC if the principal place of business changes;
  • notify ASIC of any share issues; and
  • lodge financial reports with ASIC (if required).
• The company secretary of a private company must also notify ASIC of changes to the:
  • member register;
  • share structure; and
  • the ultimate holding company.
• These duties are in addition to the company secretary's duties as an officer of the company.
• Our Phone a Lawyer service may be able to put you in touch with a lawyer for a preliminary consultation to help you better understand your obligations as a director.

• If you are a proprietary company then the answer is no. For all other companies the answer is yes.
• If you choose to have a company secretary then you will need to adhere to the Corporation Act 2001 (Cth) requirements. You may wish to appoint a registered agent to lodge documents on your behalf.
• Your company may also want to appoint someone outside of the company to handle the ASIC paperwork and requirements such a compliance lawyer, adviser or company secretarial service.
• Our free Find a Lawyer directory provides contact details for lawyers who may suit your needs.

• If you are a small proprietary company you do not need a company secretary although you may choose to have one.
• If you are any other type of company you must have at least one company secretary but you can have more than one if you want.

• If you are a proprietary company and choose to have a company secretary then one company secretary must reside in Australia.

• ASIC defines a small proprietary company as a proprietary company including any entities it controls which meets any 2 of these criteria:
  • has a gross operating revenue of no more than $25 million AUD for the financial year;
  • has assets of no more than $12.5 million AUD at the end of a financial year; and
  • has no more than 50 full time employees.

• In general terms a small proprietary company does not have to prepare or send financial statements to ASIC. However there are some instances where a small company may be required to lodge a financial report such as:
  • where your company is controlled by a foreign company then you may be required to prepare or send a financial statement;
  • if you are a small proprietary companies subject to a shareholder direction; or
  • where ASIC directs a small company to lodge a financial report.
• If these circumstances apply you will need to send a financial statement to ASIC. You may wish to refer to the ASIC website at www.asic.gov.au or seek assistance from your compliance lawyer, adviser or accountant.
• You can use our Phone a Lawyer service for a preliminary legal consultation if you think you may need legal advice.

• Your company needs to fill out and lodge Form 388.
• This form is used for public, large proprietary, small proprietary foreign-controlled companies.
• Registered schemes and trusts must also lodge a copy of financial statements and reports annually accompanied by this form. 

• You need to lodge Form 388. This form is used to notify ASIC of the appointment of an auditor to the company (but not a scheme).
• There are generally no fees. However fees may apply to specific types of companies and entities or there may be late fees apply if you are required to lodge a report and fail to do so on time.

• A compliance lawyer or adviser can assist you with determining:
  • whether your company must be audited;
  • if any audit relief applies;
  • whether your company needs an auditor;
  • who can audit your company to meet ASIC’s requirements; and
  •  how best to respond to questions or requests from ASIC.
• If you need more specific information about how the auditing requirements apply in your situation you can use our free and anonymous Ask a Lawyer service.

• When an employee dies his or her dependents will be entitled to a lump sum payment.
• Dependents generally mean any person that was wholly or partially dependent on the employee to provide for them financially and includes:
  • parents;
  • children;
  • siblings; and
  • partners including de facto and same-sex partners.
• In addition to lump sum payments some state and territories allow for the children of the deceased to receive weekly payments until they turn 16 or 25 if they go on to fulltime study.
• Some state and territories allow for other dependents such as partners to receive weekly payments although these are usually limited to periods ranging from 13 weeks to 3 years.