The street was formerly named Corporation Lane. As a tribute to Australian rock band AC/DC the lane was officially renamed on 1 October 2004.[2] The renaming was permitted by a unanimous vote of the City of Melbourne.[3]
The trademark lightning bolt or slash ("/") used to separate the 'AC' and 'DC' in the band's name contravened the naming policy of the Office of the Registrar of Geographic Names, so the punctuation was omitted on the street sign.[4] One month after the renaming a lightning bolt was erected above and below the street sign by an artist named Knifeyard.[5]
Corporation Lane (the generic name assigned to otherwise unnamed lanes in Melbourne) was renamed in part because of band AC/DC's ties to Melbourne, their status as cultural ambassadors for Australia, and the lane's position in the city's bar and rock district.[7] AC/DC famously filmed their music video for It's a Long Way to the Top along Swanston Street which runs parallel to AC/DC Lane.[3]