Rumours of ASIC company register sell-off

No Caption
No Caption Mel McMillan

RUMOURS are swirling the Federal Government could sell off ASIC's company register as it considers new ways to improve the national budget.

The speculation reported by The Australian suggests the registry earns about $535 million in reporting fees per year plus a further $90 million a year from business names and searches.

The register lists company directors, names, auditors, liquidators and others.

"It is understood that the Coalition is in favour of an upfront payment from a private buyer for the rights to operate the registry and an annual licence fee paid to the government," it reported.

APN understands the government has no plan to sell any assets aside from the $4 billion sale of Medibank Private.

An ASIC spokesman said any potential sale of its company register is "a matter for government".

Topics:  asic privatisation sell-off

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