Potential business requirements
Registering a business name
A registered business name is a trading name under which an organisation or an individual can conduct their business activities.
An association does not need to register a business name if it operates under its incorporated name. If the association wants to trade under a different name (including a shortened version of the association name) it will be necessary to register this as a business name.
An association will only have one name for the purposes of incorporation, but may conduct its businesses under more than one registered business name (provided business is being carried on under each of those names).
A business name can be registered online through the Australian Securities and Investments Commission (ASIC). Visit ASIC’s website for further information.
Incorporated associations can only conduct business in their state of registration. If an association wants to trade interstate or nationally it may be necessary to become a registered Australian body through ASIC. For more information contact the ASIC on telephone 1300 300 630 or visit their website.
An association may open a bank account in its own name which is operated by people who can sign on behalf of the association. These signatories are usually members of the management committee and having more than one person required to approve a payment or withdrawal provides financial and security safeguards. The necessary paperwork can be set up with the bank or credit union. Decisions about the account and signatures should be made by resolution and recorded in the minutes.