Do you run a small business? ASIC has released a booklet to make complying with your legal obligations easier.
ASIC Commissioner Greg Tanzer said it was the first of a series of tools and resources being developed to make compliance a less daunting task.
‘We understand that people who operate small businesses are busy and may not have access to resources such as legal advice to help them understand and manage their obligations’, Mr Tanzer said.
‘Compliance is also about more than just obeying laws, it’s about good business. It provides small businesses and consumers with certainty that they can transact with other businesses in an environment that is fair and transparent.’
Your obligations as a small business operator
covers key topics such as:
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ASIC’s regulatory role and functions
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types of business structures regulated by ASIC,
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responsibilities for managing businesses under a company or business name structure, and
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obligations under key ASIC-related laws.
The release of the booklet follows ASIC’s National Small Business Survey last year and consultation with other regulatory agencies, small business associations and business advisers.