Every company in Australia is required to secure an ACN/ACN Lookup, which refers to a unique numerical identification that contains 9 digits. This is issued by the Australian Securities & Investments Commission (ASIC), in compliance with the Corporations Act of 2001.
The ACN/ACN Lookup is required to be indicated in a number of documents, with the primary purpose of assigning each duly registered Australian company with a numerical identification in the course of transacting business with various entities.
The ACN/ACN Lookup is generated using algorithms, with the last digit assigned as its check digit, which is used as basis for any inquiry, monitoring and verification.
The ACN/ACN Lookup is required to appear on all of the company’s eligible negotiable instruments as well as public documents. In particular, the ACN/ACN Lookup should appear in the following documents:
In cases where the company name appears in a number of pages of a certain business document or a negotiable instrument, it is important that the ACN/ACN Lookup appears on the first page following the name of the company. If the document contains a list of different companies, each company name should have its corresponding ACN/ACN Lookup indicated right next to it, written clearly.