Client alerts - all company directors obliged to apply for and obtain a director identification number.

All Company Directors obliged to apply for and obtain a Director Identification Number.

The Australian Government has announced that company directors appointed under the Corporations Act 2001 (Cth) will be required to apply for Director Identification Numbers (DINs) by 30 November 2022 (directors of indigenous corporations have separate obligations to apply for DINs by 30 November 2023). 

The DIN regime allows effective tracking of directors and their corporate histories. This in turn reduces the use of fictitious identities and clamps down on illegal phoenixing – stripping companies of assets with intent to defraud creditors.

Under the DIN regime, directors (including alternate directors) must apply for their unique DINs through an electronic platform to be provided by the Commonwealth Registrar (Registrar) or in the form provided by the Registrar, prior to being appointed. Such DIN applications must be made within a prescribed period (28 days or as the Registrar determines).

Civil and criminal penalties will be imposed on directors who do not meet their DIN requirements, such as failing to apply for a DIN within the applicable timeframe or providing false identity information to the Registrar.

The DIN system is now in a testing period so directors do not need to rush out for a DIN yet. Further advice will be provided.

Please feel free to contact us for any clarification or more information.  

Jess Hui

Senior Associate

Hillman & Associates Lawyers

Check Jess' profile: https://www.hillmanlawyers.com.au/jess-hui

We can be contacted by email at info@hillmanlawyers.com.au or by phone +61 2 9232 8392.