Blog

Did you know Australian companies can use a currency other than Australian dollars for their share capital? However, ASIC’s Companies Register does not allow for currency selection when lodging this information with ASIC. This means anyone reviewing a company’s share capital on public record can easily be misled. They may assume that the amounts shown on the register are in Australian dollars when in fact they could be in any currency.

ASIC has recently updated its lodgement processes, allowing certain ASIC forms that were historically mail-only to now be lodged with ASIC by email. This is a welcome change towards greater efficiency and convenience for anyone who has frequently lodged hard copy forms by mail!

This article explores ASIC's increased focus on enforcement on companies for failure to lodge financial reports.