[no bill text published] Disqualification and Deregistration Powers for ASIC
Treasury Laws Amendment (Business Registries Stabilisation and Uplift) Bill 2026
1st House
2nd House
Law
Links to official parliament websites
Effects of this bill
If this bill passes, it means that:
ASIC can disqualify a person from managing corporations for up to 3 years; the person must first be given a chance to argue why they should not be disqualified.
ASIC can deregister a company if it believes the company provided misleading, false, or deceptive information.
Companies must notify ASIC of a change to their electronic address within 28 days; failing to do so is a strict liability offence.
ASIC can publish information from registers if the public interest outweighs the risks.
ASIC can redact information or restrict access to documents to protect privacy or the administration of justice.
Directors must give their director identification number to the company within 7 days of receiving it.
Companies must lodge a director's identification number with ASIC within 14 days of the appointment.