What is the first step in a BCA company's process for a voluntary name change?

The process for a voluntary name change in a Business Corporations Act (BCA) company begins with the need to reserve the new name. This is an important first step because it ensures that the desired name is available and not already in use by another entity. By reserving the name, the company can prevent others from registering it during the time it takes to complete the rest of the name change process.

Once the new name is reserved, the company can then proceed with the necessary internal and external steps to effectuate the change, including conducting a board meeting for approval, filing the Notice of Alteration, and ultimately issuing a Certificate of Name Change. Each of these subsequent steps relies on the prior reservation to ensure the new name is secured and legally accepted.