Schedule 5: Communications by a company Part 41: Business Names Chapter 1: Restricted Or Prohibited Names Section 1199: Savings for existing lawful business names
1530.This section provides exemptions for those continuing to use a name that was lawful before the Act comes into force. The exemption is both from the requirement for prior approval and from using names that include a protected indicator of company status. It also retains the existing provision for when a business is transferred: providing the name was previously lawful, the business may continue under that name for 12 months even if otherwise it would not be lawful for whoever is now carrying on the business (see subsection (3)).