The Government has published a mini-site with information on who needs to apply for a director identification number and when, and how to apply.
The director identification number (DIN) is a unique identifier that a director will keep forever. The director ID will help prevent the appointment of fictitious directors and facilitate traceability of their profile and relationships with companies over time. Background.
The Corporations (Director Identification Numbers – Transitional Application Period) Instrument 2021 specifies that the transitional application period under the Corporations Act is 4 April 2021 to 30 November 2022 and the transitional application period under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 is 4 April 2021 to 30 November 2023.
The transition arrangement can be summarised as follows:
- Persons who are or become directors before 31 October 2021 must apply for a DIN by 30 November 2022 (for Corporations Act directors) or 30 November 2023 for CATSI Act directors;
- Persons who become directors between 1 November 2021 and 4 April 2022 who do not already have a DIN must apply for a DIN within 28 days of appointment;
- From 5 April 2022 persons who become directors and who do not already have a DIN must apply for a DIN before appointment.
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Author: David Jacobson
Principal, Bright Corporate Law
About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.