If you are the director of a company or plan on starting a new company, you will be required to verify your Identification as part of the new Director Identification Number (Director ID) requirement.
The Australian Government has spearheaded a new initiative with the establishment of the Australian Business Registry Services (ABRS). This initiative will combine the current Australian Business Register in addition to the ASIC registers.
The Director ID is a unique identifier that a director must obtain only on one occasion. Once obtained, that Director ID will be used across all of your corporate interests. This will prevent the use of false, fraudulent or inaccurate identities of directors in the ABRS.
If you are currently the director of a company, you must obtain a Directors ID by the following dates:
Date you become a Director: Date you must apply:
On or before 31 October 2021 By 30 November 2022
Between 1 November 2021 – 4 April 2022 Within 28 days of appointment
From 5 April 2022 Before appointment
Applications for your Directors ID are open now through www.abrs.gov.au
This is a practical application by the Australian Government to afford people who deal with companies transparency and accountability in their dealings.
If you have any questions about your legal obligations as a company director, contact Longton Legal who have experienced solicitors who can assist with your personal circumstances.
*Disclaimer: This is intended as general information only and not to be construed as legal advice. The above information is subject to changes over time. You should always seek professional advice before taking any course of action.*
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