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ARTICLE · 22 NOVEMBER 2022

Director Identification Numbers - register before it's too late

Rostron Carlyle Rojas
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What are DINs? Who needs to apply & when? Offences & penalties.

AustraliaCorporate/Commercial Law
Michael Finch
Michael Finch
Luke Hyland
Luke Hyland
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WHAT ARE DIRECTOR IDENTIFICATION NUMBERS?

In an effort to curb phoenixing activity and fraud, the Commonwealth government are implementing director identification numbers ("DIN"). The scheme requires current and future company directors to register for their DIN, to be used as a special identifier for each company that individual is appointed to as director. In essence, the scheme will assist ASIC in determining repeat offenders of failed or insolvent entities, or where directors repeatedly breach the Corporations Act 2001 (Cth) ("the Act").

For most directors, registration is required by 31 November 2022. If you have not yet applied, avoid delay and apply now.

WHO NEEDS TO APPLY?

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