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Business Names Registration Act 2011
43Cancellation—ASIC becomes aware of matter that would have affected registration decision
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#### 43 Cancellation—ASIC becomes aware of matter that would have affected registration decision
(1) ASIC may cancel the registration of a business name to an entity if:
(a) ASIC becomes aware of a matter after the business name is registered to the entity; and
(b) ASIC is satisfied that, had it known of the matter at the time the business name was registered to the entity, ASIC would not have registered the business name to the entity; and
(c) ASIC is not satisfied that there are exceptional circumstances justifying the continued registration of the business name.
(2) ASIC must, at least 28 days before cancelling the registration, give notice in writing to the entity informing the entity:
(a) of the matter that has, since registration, become known to ASIC; and
(b) that ASIC will cancel the registration of the business name unless the entity satisfies ASIC that there are exceptional circumstances justifying the continued registration of the business name.