The New Directors Identification Number Regime.

From 1 November 2021, company directors will be required to have their own unique director identification number (DIN) to verify their identity. DINs are a unique 15-digit identifier issued by Australian Business Registry Services (ABRS).

Why were DINs introduced?

DINss have been introduced to help prevent the use of false or fraudulent director identities, in particular, illegal phoenixing. It will be used to track individual directors and their activities to stop such unlawful activities.

How does a DIN work?

DIN is a 15-digit identifier allocated to a director, or someone who intends to become a director, and has verified their identity with ABRS. Directors will always keep the same DIN, irrespective of changing companies or their name, moving interstate or overseas or retiring.

Who needs to apply?

Every ‘eligible officer’ of:

• an Australian or foreign company registered under the Corporations Act 2001 (Cth) (Corporations Act), even if it is a charity;
• an Aboriginal and Torres Strait Islander corporation registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (Cth) (CATSI Act).

The DIN regime does not apply to shadow directors or company secretaries.

When to apply

For directors under the Corporations Act:

For directors under the CATSI Act:

Directors must apply for their director ID themselves because they will need to verify their identity. No one can apply on their behalf.

Penalties

An infringement notice may be issued, and civil or criminal penalties may apply for failures to meet their obligations under the DIN regime.

For more information regarding the new DIN regime, contact Bespoke.