2. Overview
9 April 2019 2
• Registry challenges facing Australia today
• Proposals and challenges in modernising
Australia’s business registers
3. Registry structures and ownership models
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• Variety of international approaches:
– Core Government agencies
– Chambers of Commerce
– Private public partnerships
- Courts of justice
- Other
4. Australian registry fast facts
9 April 2019 4
The ASIC Registry:
• Administers registers of companies, business
names, and professionals
• collects fees
• makes information accessible
• provides front-line support
5. 9 April 2019 5
ASIC REGISTRY
122.5 million searches
99.99% online
3.015 million updates
93% online
2,655,142
Companies
2,630,109
Pty Ltd
Companies
25,033
Public
Companies
2.7 m
Directors
2,270,953
Business
Names
4,091
Company
auditors
3,723
Managed
Investment
Schemes
6,224 AFS
licensees
68,527
AFS
Representatives
5,419 Credit
licensees 39,311
Credit
Representatives
28,878
Financial
Advisers
6,022 SMSF
Auditors
657
Liquidators
6. Current ASIC registry challenges
• Outdated technology
• Increasing data loads
• Growing customer expectations
• Not supporting demands to build new functionality, improve integrity
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9. Modernisation within Government proposal
1991 2014 2017 2019
9 April 2019 9
National corporate register created
Privatisation proposals considered
Modernisation
within Government
planning commences
Business case developed
& Legislation introduced
10. Modernisation within Government
9 April 2019 10
Government review
of ASIC registry fees
Government business registry
platform request for
information now open
Legislation … aims to
make business data
current accurate and
accessible
12. Australian Business Register fast facts
9 April 2019 12
including the ASIC and ABR
2.24 million
business names
2.6 million
on the ACR 52
million
active ABNs
Key statistics as at 30 June 2018
entry accesses a
year on ACR
2.5 million
32 registers
companies31 ASIC registers
1 ATO register
ASIC’s earliest predecessor, the
Australian Securities Commission
was established 1 January 1991 to
unify corporate regulators and
registers.
ASIC was established on 1 July
1998
ABR was established on 1 July 1999
7.9 million
250,000
Australian Company Register
+ 30 others
Australian Business Register
122 million
searches
last financial year on ASIC
registry services
individual directors
will require a DIN
850,000
new ABN
entries each
year
1 billion
searches and data look ups
annually
new company
registrations
annually
ABR
13. Benefits of Modernisation
• Responsiveness to changes
• Entity based data model
• Core dataset for public search
• Modern technology platform
• Digital user interface
• Consolidating ASIC and ABR registries at the ATO
• Charging models
• Director Identification Number
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14. Legislative changes
Undesirable features of the existing regime:
• Registers being maintained separately from
each other despite holding similar
information
• Regulators having limited ability to
determine what information is required for
each register
• Regulators having varying abilities to
determine the manner and form in which
registry information is collected and the
business rules associated with such
collections
• Different rules applying to the management
and use of registers
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Our legislative reform package sets out:
• What information is subject to the new regime
• Who may be appointed to administer the new
regime as its registrar(s)
• The functions and powers of the registrar
• How the registrar performs its functions and
exercise its powers
• The framework for protecting and disclosing
information held by the registrar
• Proposals for a Director Identification Number
• Other matters that support the new regime
15. Implementation approach
Consultation topics
• Legislation
• Registry service enhancements
• Funding registry infrastructure
• Search fees
• Director Identification Numbers
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16. Key Challenges
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Law changes
Business Process
Re-engineering
Organisational Change
New technology
User transition and change management
Program management
Data
Stakeholder engagement and co-
design
MBR contributes to
the Government’s
vision for Australia
to remain ranked as
one of the top three
in the ‘digital
governments in the
world’ by 2025.