Acronym for Australian Securities and Investments Commission, the government body responsible for regulating companies, the issue of sale of shares and trust units and company borrowings, and investment advisers and dealers, in accordance with the Corporations Law.
ASIC is an organisation formed in 1991 by the Australian Parliament to regulate companies in Australia. ASIC has the responsibility for administering the Corporations Act 2001 which governs the day to day operations of corporate Australia. One of ASIC's compliance functions is to receive, process and store documents lodged for Australian companies. ASIC's database has two parts. The first part, known as ASCOT, contains statutory information on all companies registered in Australia. The second part of ASIC's database is the DOCIMAGE system. It is here that all documents received by ASIC are scanned and retained in an electronic form.
Australian Securities & Investment Commission