Recently the federal government introduced legislation intending to implement a Director Identification Number (DIN) under Australia corporations law. This means that, as a director of a company registered in Australia, you will be required to obtain a DIN. This DIN will be a unique identifier and you will only have one for your entire life as a director.
Once legislation is enacted, the new regime will need to be set up by an appointed registrar. Therefore, the commencement of the DIN regime will be announced at a future date via a proclamation by the registrar.
Transitional rules for current directors will also be provided by legislative instrument once the system is in place and ready to operate. Until these transitional rules are specified by the registrar, there will be no obligation for current directors to apply for a DIN.
If you have any questions, please let us know.
