Thinking | 22 October 2021

Director Identification Numbers incoming

By Michelle Eastwell, Vanessa Murphy and Chris Wright

A quick reminder that directors can start applying for a Director Identification Number (DIN) from 1 November 2021, and that current directors must have applied for a DIN by 30 November 2022. The DIN scheme has been implemented to deter and penalise phoenix activity.

A DIN will be unique to each individual director and will interface with other government agencies and databases to allow regulators to map the relationships between individuals and entities, and individuals and other people.

The obligations under the DIN scheme are:

  1. if they do not already have one, a person appointed as director, alternate director or any other officer of a body corporate registered under the Corporations Act 2001 (Cth) (Corporations Act) or the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act) must apply to the registrar for a DIN prior to being appointed a director
  2. a director must apply for a DIN within the prescribed period (28 days or as the registrar determines) of being directed to do so by the registrar;
  3. a person must not apply for multiple DINs; and
  4. a person must not misrepresent a DIN to a government or registered body.

Directors must apply for their DIN themselves, because they will need to verify their identity. As such, no one can apply on their behalf. This application is made through the new Australian Business Registry Services.

When directors (or those to be appointed as a director) must apply for a DIN depends on the date they become a director.

For Corporations Act directors, this is as follows:

Date they become a director
Date to have applied for a DIN
On or before 31 October 2021 By 30 November 2022
Between 1 November 2021 and 4 April 2022 Within 28 days of appointment
From 5 April 2022 Before appointment

 

For CATSI Act directors, this is as follows:

Date they become a director
Date to have applied for  a DIN
On or before 31 October 2022 By 30 November 2023
From 1 November 2022 Before appointment

 

As directors need to verify their identity as part do the application process, we recommend starting the process early.

Hall & Wilcox has extensive experience assisting companies with corporate compliance, as well as advising directors on their roles and requirements. If you require any assistance with these matters, please contact us.

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