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Change of company name compliance now allows revenue or substantial asset investment test, with auditor certificate required. The prior revenue-based test for change of name is supplemented by an alternative asset-investment test: companies may comply either by showing the new activity accounted for a majority of prior year revenue or by demonstrating that investment in the new activity (fixed assets + advances to contractors/suppliers specific to the project + works-in-progress) equals at least half of company assets; compliance must be supported by an auditor's certificate submitted to the exchange.
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Change of company name compliance now allows revenue or substantial asset investment test, with auditor certificate required.
The prior revenue-based test for change of name is supplemented by an alternative asset-investment test: companies may comply either by showing the new activity accounted for a majority of prior year revenue or by demonstrating that investment in the new activity (fixed assets + advances to contractors/suppliers specific to the project + works-in-progress) equals at least half of company assets; compliance must be supported by an auditor's certificate submitted to the exchange.
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