The Australian Securities & Investment Commission (ASIC) has released a new booklet that it says will make it easier for small business owners to comply with their legal obligations.
The booklet, titled Your Obligations As A Small Business Operator, covers key topics such as:
- ASIC’s regulatory role and functions.
- Types of business structures regulated by ASIC.
- Responsibilities for managing businesses under a company or business name structure.
- Obligations under key ASIC-related laws.
Launching the booklet, 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,” 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.”
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