Director Identification Numbers: What do I have to do?
From 1 November 2021, Director Identity Numbers (DINs) became mandatory for all company directors. Accordingly, all directors are now required to apply for a DIN and should begin preparing their applications.
We prepared an initial article on the implementation of the DIN regime back in July of 2020, noting that the Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2019 will amend the Corporations Act 2001 (Cth), requiring all company directors, including foreign and alternate directors, to hold a unique DIN administered by ASIC. You can find our initial article here.
If you were appointed as a company director on or before 31 October 2021, you have until 30 November 2022 to apply for a DIN. The application timeframe is shorter for any director appointments after 31 October 2021:
any person appointed as a director for the first time between 1 November 2021 and 4 April 2022 has 28 days from the date of the appointment to apply for a DIN; and
any person appointed as a director for the first time from 5 April 2022 will be required to have a DIN before their appointment.
We note that a failure to have a DIN by the required date is an offence, and penalties will apply. There are also offences associated with actions which would undermine the DIN regime, such as providing false identification documents.
You must apply for your own DIN as ASIC are required to verify your identify as part of the application process. You can apply via the ABRS website, by phone on 13 62 50, or by paper application that can be found on the ABRS website.
Once you have had your DIN administered by ASIC, it will stay with you notwithstanding any change of role, change of company, any changes in personal information, or even when you retire as a director.
If you require advice in relation to your obligations as a company director and the DIN process, please do not hesitate to contact:
Paul Gray
Principal
T: 03 5225 5231 | M: 0414 195 886
E: pgray@ha.legal
Alasdair Woodford
Special Counsel
T: 03 5225 5217 | M: 0436 456 144
E: awoodford@ha.legal
Hugo Le Clerc
Lawyer
T: 03 5225 5213
E: hleclerc@ha.legal
Ryan Popovski
Graduate Lawyer
T: 03 5226 8572
E: rpopovski@ha.legal
