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ARTICLE · 24 JUNE 2020

Director identification numbers are coming

Holding Redlich
Holding Redlich
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Discussion about new laws that modernise & simplify the business registration framework & continue anti-phoenixing measures.

AustraliaCorporate/Commercial Law
Georgia Milne
Georgia Milne
Catherine O'Connor
Catherine O'Connor
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Legislation to consolidate national business registers and to introduce Director Identification Numbers (DIN) was passed by the Parliament last week. Together, the Commonwealth Registers Bill 2019 and the Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2019 are part of a legislative package to modernise and simplify the business registration framework into a "mega-registry" made up of over 30 different registries, and represent a continuation of the anti-phoenixing measures.

The registry changes will include the registries for companies, business names, business numbers and others, with the Australian Business Register to operate the new system (under the auspices of the Australian Tax Office), with a view to reducing fraud and introducing greater automation in compliance.

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This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.

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