ASIC Form 403 Requires Verified Copy of Authority for Foreign Company Local Agent Appointments

Key Takeaways

• ASIC's Form 403 (dated 17 January 2011, though listed here under a 2026 date) requires a foreign company to verify a true copy of the document authorizing someone to execute a memorandum of appointment or power of attorney for a local agent under section 601CG(2) of the Corporations Act 2001.
• It is a procedural form with no lodgement fee, not a new rule.
• Compliance teams supporting foreign entities registered in Australia should confirm that their filings and annexures meet its formal requirements.

Deep Dive

ASIC's Form 403 (dated 17 January 2011, though listed here under a 2026 date) requires a foreign company to verify a true copy of the document authorizing someone to execute a memorandum of appointment or power of attorney for a local agent under section 601CG(2) of the Corporations Act 2001. It is a procedural form with no lodgement fee, not a new rule. Compliance teams supporting foreign entities registered in Australia should confirm that their filings and annexures meet its formal requirements.

The key requirement applies where a foreign company appoints a local agent by lodging a memorandum of appointment (Form 418 may be used) or a power of attorney, and that document is executed on the company's behalf rather than by the company itself. In that case, the company must lodge Form 403 with a true copy of the authorizing document attached as an annexure. The form can be signed by a director or secretary of the foreign company, the person authorized to execute the appointment, or the local agent. The form is related to Form 402 (registration as a foreign company) and Form 404 (notification of change to agent).

Annexures must meet formal standards: A4 white or light pastel paper, margins of at least 10mm, company name and ACN or ARBN shown, consecutively numbered pages, legible block lettering in dark blue or black ink, an identifying mark, the prescribed endorsement wording, and a signature and date from the same person who signed the form. The guide lists no lodgement fee (nil) and no lodgement period. Forms are sent by post to ASIC at PO Box 4000, Gippsland Mail Centre VIC 3841, so the timing of the related appointment, not this form, is the practical driver.

Recommended actions: confirm whether any foreign group entities appoint local agents through delegated execution; maintain a checklist covering annexure formatting, signatory eligibility, and cross-references to Forms 402, 404, and 418; and check ASIC's current lodgement channels, since the postal instructions may be outdated. Risk impact is low but real. Defective or missing verification can delay registration or agent appointment and create gaps in a foreign company's Australian compliance standing, including potential exposure under Corporations Act provisions on registered foreign companies.

Source: Australian Securities and Investments Commission