MANAGEMENT

Detailed explanation-1: -As per the ASIC, the name must be registered in an online register known as the ‘National Register. Such a requirement is mandatory after 2012. If an already identical name is present for the company, then registering the name would not be possible.

Detailed explanation-2: -An Aviation Security Identification Card, known as an ASIC, is an identification card which is used to identify a person who has been the subject of a background check. An ASIC is required to obtain unescorted access to the secure areas of security controlled airports that have regular public transport (RPT) services.

Detailed explanation-3: -To be eligible to be an ASIC registered agent, you: must be a registered Australian company, the holder of a business name, or an individual that carries on business under their own name. must have an Australian Business Number (ABN) must not be disqualified from managing corporations under the Corporations Act 2001.

Detailed explanation-4: -Section 3 of the Companies Act, 2013, details the basic requirements of forming a company as follows: Formation of a public company involves 7 or more people who subscribe their names to the memorandum and register the company for any lawful purpose. Similarly, 2 or more people can form a private company.

Detailed explanation-5: -Mandatory Company Registration Hence, a business with any amount of turnover or capital can be operated as a Proprietorship or Partnership or Limited Liability Partnership or Private Limited Company. However, the Companies Act 2013, does require mandatory company registration for certain Partnerships.