ASIC Company Extract: What Does it Mean and How do I Obtain One?

Author: Megan Adams & Jasmine Burrows, Progressive Legal

If you are involved in the world of business, staying informed about a company’s details is crucial for making informed decisions. One invaluable resource for this purpose is the ASIC Company Extract, a document that encapsulates a wealth of information about a registered company.  

Whether you’re an entrepreneur, investor, creditor, or simply someone curious about a company’s operations, an ASIC Company Extract can be an indispensable tool. On this page, we delve into what an ASIC Company Extract is, its contents, and why it matters. 

What is an ASIC Company Extract? 

The Australian Securities and Investments Commission (ASIC) is the regulatory body responsible for overseeing corporate entities and financial markets in Australia.  

One of its key offerings is the ASIC Company Extract, a comprehensive record that provides an overview of essential details about a registered company.  

This document is essentially a snapshot of a company’s registered information and history, which can be accessed by anyone interested in understanding its financial health, structure, and compliance status. 

What is included in an ASIC Company Extract? 

The following lists what information is included in an ASIC Company Extract. 

Company Details

Basic information such as the company’s name, registration number, and Australian Business Number (ABN) is provided. 

Registered Office

The official address where the company is located, and its principal place of business are listed. 

Directors and Officers

The names, addresses, and dates of birth of current and past directors and company secretaries are mentioned. 

Share Structure

Details about the company’s share structure, including the number and types of shares issued, as well as the names of shareholders.

Financials

While not detailed financial statements, the extract often includes financial information such as solvency status, capital structure, and any special resolutions related to finance. 

Charges and Debts

Information about any charges or debts secured against the company’s assets is outlined. 

ASIC Lodgements

A summary of the company’s lodgements with ASIC, including annual statements and changes in company details. 

Company History

Historical data such as changes in company name, changes in officeholders, and other significant events are documented. 

How do I order an ASIC Company Extract? 

You can purchase ASIC Company Extracts online using a credit card on the ASIC website. TO do this, search for a particular company or business. You will then find a list of extracts, documents or information that is available. After it is purchased, it will be sent to your email.  

Any certified documents will be sent by mail. These incur an extra $3 fee. Certified documents are often required for legal and official purposes. They serve as verified and authentic representations of the original document. 

How much does an ASIC Company Extract cost? 

A current ASIC Company Extract costs $10 online and $13 via mail.  

A current and historical company extract costs $19 online and $22 via mail.  

You can find an in-depth table listing all the relevant fees on the ASIC website here.  

Why do I need an ASIC Company Extract? 

You might need an ASIC Company Extract for several reasons: 

Research and Due Diligence

If you’re considering investing in a company or doing business with them, an ASIC Company Extract gives you valuable insights into their financial health, history, and structure. This helps you make informed decisions and reduces risks. 

Verification

When dealing with companies for legal or financial purposes, having an official document like an ASIC Company Extract can verify their legitimacy and existence. 

Credit Assessment

Creditors often use ASIC Company Extracts to evaluate a company’s creditworthiness before extending loans or credit terms. 

Legal Compliance

Understanding a company’s legal structure, registered office, and key personnel can help with legal compliance, especially if you’re entering into contracts or partnerships. 

Competitor Analysis

Researching competitors using ASIC Company Extracts can provide insights into their operations, helping you strategise and position your own business better. 

Mergers and Acquisitions

In merger or acquisition scenarios, detailed information about a company’s financials, shareholders, and history is crucial for negotiations. 

Regulatory Compliance

Certain regulatory requirements might necessitate providing ASIC Company Extracts as part of licensing, permit applications, or other official processes. 

Historical Data

The extract includes historical changes, which can be useful for tracing a company’s growth, name changes, or shifts in leadership. 

Risk Assessment

By reviewing debts, charges, and past financial information, you can assess the level of risk associated with dealing with a particular company. 

Transparency

Whether you’re an investor, shareholder, or customer, having access to a company’s official information promotes transparency and trust. 

In essence, an ASIC Company Extract empowers you with accurate, official information about a company, aiding in smart decision-making, risk evaluation, and various business interactions.

Key Takeaways

The ASIC Company Extract stands as a reliable source of information for individuals and entities engaged in business activities in Australia.  

It offers a comprehensive overview of a company’s registered details, financial health, and historical data, aiding in due diligence, risk assessment, and informed decision-making. In an era where information is power, the ASIC Company Extract empowers stakeholders to make well-informed choices that can have a significant impact on their business ventures and financial endeavours. 

If you have any further questions on ASIC Company Extracts, contact our team of corporate lawyers at Progressive Legal. Give us a call on 1800 820 083 or request our advice below.

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