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ARTICLE · 15 NOVEMBER 2021

Australia introduces compulsory Director ID numbers

Piper Alderman
Piper Alderman
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Piper Alderman

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Director IDs aim to prevent false identities, assist regulators to trace relationships and uncover unlawful activity.

AustraliaCorporate/Commercial Law
Greg Conomos
Greg Conomos
Melinda Patroulias
Melinda Patroulias
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  • From November 2021, Directors will need to apply for a Director ID number to prevent the use of false identities, assist regulators trace Directors' relationships and uncover unlawful activity.
  • A Director ID will be permanently linked to a Director, even if they cease to act as a Director, change their name or move overseas.
  • The new requirement impacts all company Directors, with civil and criminal penalties for those who fail to comply.

The Australian Government is set to roll out its new initiative to streamline the Australian Business Registry Services (ABRS) and Australian Securities and Investments Commission (ASIC) registers, requiring Directors to apply for a unique identification number (Director ID). The new regime is proposed to increase Director accountability and traceability whilst preventing unlawful activities such as phoenexing.

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