FED ASIC Can Limit Public Access to Registers and Share Information to Help Carry Out Its Functions

Treasury Laws Amendment (Business Registries Stabilisation and Uplift) Bill 2026

29 Jun 2026: Passed by Parliament and signed off by the governor.

This bill kicks in: TBA

House of Representatives

Senate

Assent

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Topics

business registration company directors consumer protection corporate governance corporate transparency government transparency information sharing investor protection privacy

Introduced by: The Hon Dr Andrew Leigh MP (ALP)

Links to official parliament websites

Official page: progress through parliament

Effects of this bill

If this bill passes, it means that:

Directors can be disqualified if they fail to meet director ID number requirements.
Companies must lodge a director's identification number with the Australian Securities and Investments Commission (ASIC) within 14 days of the required date.
ASIC can limit public access to certain information on its registers to protect consumers and investors from wrongdoing.
ASIC can refuse to accept documents or information if they are in the wrong format, contain errors, or break the law.
The Treasurer can decide that a specific business name is available for a specific entity, even if the name would normally be restricted.
ASIC can correct errors or omissions in the register.
ASIC can share information with other people to help them carry out ASIC's functions and powers.
The Registrar can add extra details to the register of people who have director identification numbers.
ASIC can set the approved format for how documents and information are sent to the agency.

The Debate

What different members said when this bill was debated:

Dr Andrew Leigh ALP

“I move: That this bill be now read a second time. This bill delivers urgent and practical reforms to strengthen Australia’s business registers. These registers are critical national infrastructure that underpins trust, transparency and confidence across the economy. Australia’s business registers sit behind millions of ordinary decisions.”

Official source →

Kevin Hogan NAT

“I rise to speak to the Treasury Laws Amendment (Business Registries Stabilisation and Uplift) Bill 2026. As a starting point, the coalition is broadly supportive of this bill. We will not oppose it in the House, so there can be a proper consideration by a Senate inquiry. This bill is obviously going to keep Australia’s business registers operating.”

Official source →

Jo Briskey ALP

“One of the responsibilities that comes with government is inheriting the consequences of decisions you didn’t make. Sometimes that means fixing what was broken before you arrived, and that is what this bill is seeking to do. It is the result of this government choosing to get on with the job of identifying areas that need fixing and then moving forward with reforms that make them better.”

Official source →

Julie-Ann Campbell ALP

“Strong economies? They’re built on trust—trust that institutions are accountable and should be accountable, trust that markets operate fairly and should operate fairly and trust that rules are applied consistently and should be applied consistently. Confidence and trust are absolutely critical for economies to function effectively.”

Official source →

Rowan Holzberger ALP

“I rise in support of the Treasury Laws Amendment (Business Registries Stabilisation and Uplift) Bill 2026. In doing so, I’d like to congratulate the Assistant Minister for Productivity, Competition, Charities and Treasury not only for the work that he has done in this bill but the work that he has done for many, many years in the lead-up to this bill.”

Official source →

Tim Ayres ALP

“I move: That this bill be now read a second time. I seek leave to have the second reading speech incorporated in Hansard. Leave granted. The speech read as follows— This Bill delivers urgent and practical reforms to strengthen Australia’s business registers. These registers are critical national infrastructure that underpins trust, transparency and confidence across the economy.”

Official source →