ASIC Forms 991 and 992 Set Out Notice Process for Location of Computer-Stored Books

Key Takeaways

• The document is ASIC Form 991/992 (version dated 13 May 2015), which companies use under Section 1301 of the Corporations Act 2001 to notify ASIC where books and records kept otherwise than in writing are stored on computer and where they may be inspected.
• It is a standing administrative form, not a new rule, so no new obligations appear to be introduced.
• It still matters because inaccurate or outdated location notices can create record-keeping and inspection-access exposure.

Deep Dive

The document is ASIC Form 991/992 (version dated 13 May 2015), which companies use under Section 1301 of the Corporations Act 2001 to notify ASIC where books and records kept otherwise than in writing are stored on computer and where they may be inspected. It is a standing administrative form, not a new rule, so no new obligations appear to be introduced. It still matters because inaccurate or outdated location notices can create record-keeping and inspection-access exposure.

The form has two uses. Form 991 notifies ASIC of the place of storage or inspection for books kept on computer. Form 992 notifies ASIC of a change in that place. The corporation must provide its name and ACN, identify the books concerned, and give the storage address and the inspection address (which may be the same). It must also state an effective date. A current officeholder of the company must sign the form, certifying that the information is true and complete. Small businesses with fewer than 20 employees are asked to estimate the time taken to complete it. Completed forms are lodged by post to the Gippsland Mail Centre address shown on the form.

No deadline is stated in the document. The only timing element is the effective date the company enters. Compliance teams should check Section 1301 of the Corporations Act 2001 and current ASIC guidance for any timing expectations on notifying a change, especially when systems migrate to a new data center, cloud provider, or office.

Recommended actions:
- Confirm whether the form version is current and whether ASIC now accepts electronic lodgement.
- Map where financial and statutory records for Australian entities are held, and compare that against any prior 991/992 notices.
- Lodge a Form 992 promptly after any relocation of storage or inspection sites.
- Make sure signatories are current officeholders, and keep lodgement evidence.
- Include these notices in change-management checklists for IT, outsourcing, and cloud migrations.

Risk impact is low to moderate. The main exposure is a stale or inaccurate record location, which could hinder ASIC or auditor access, signal weak records governance, and trigger a breach of the Corporations Act. Because the form may contain personal information, handling should follow ASIC's privacy policy and internal data protection standards.

Source: Australian Securities and Investments Commission