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Attorney-General, Syd Stirling, will today introduce Legislation that cuts through red tape for interstate businesses trying to register names in the Northern Territory.

 

“Under current Legislation, interstate companies must register or renew business names in the Territory by lodging paperwork through a ‘resident agent’, usually a firm of lawyers or accountants,” said Mr Stirling.

 

“This is a costly exercise for businesses, who can be charged $300 for this service.

“The Business Names Bill abolishes the concept of a ‘resident agent’ and allows businesses to register and renew business names directly – online if they wish – and save the cost of going through lawyers or accountants.

 

“The requirements for business do not change – they simply need to have a physical address in the Territory, and supply access to trader details in a number of State and Territory and Commonwealth registers.”

 

Mr Stirling said the Business Names Bill brings the Territory in line with national standards.

 

“It modernises the language of the law to make it easier for businesses to understand and comply with it.

 

“The Commissioner of Consumer and Business Affairs will now take formal responsibility for the Act, and the statutory position of Registrar of Business Names will be abolished.

 

“This Bill is all about making it easier to do business in the Territory.”

 

Contact : Michelle Fraser 08 8901 4010