Posted on October 11, 2022
Last year our office published an article about the new requirement that directors register for a director’s ID (the article is accessible here).
So why write on this topic again?
Because the new requirement is no longer new, and the deadline by which directors must register for a director’s ID is fast approaching.
All directors of companies, registered Australian bodies and registered foreign companies under the Corporations Act 2001 (Cth), who were appointed on or before 31 October 2021 have until 30 November 2022 to register for their director’s ID.
Later deadlines apply to directors appointed after 30 October 2021, and those appointed as directors of an Aboriginal and Torres Strait Islander corporation registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (Cth). We recommend reviewing the Australian Business Registry Services website for further information as to the deadline that may be applicable to you: https://www.abrs.gov.au/director-identification-number
The penalty for failing to make this deadline is significant – individuals could face up to $1.1 million in civil penalties and up to $13,320 in criminal penalties.
Our team at Scanlan Carroll Lawyers have been assisting clients with their commercial matters for over 30 years. With two LIV accredited specialists in commercial law and practitioners working in the areas of employment law, insolvency, family law and wills and estates, we are able to offer multi-faceted, proactive and well-informed legal advice that ensures that you can feel confident all areas of your business are covered.
If we can be of any further assistance please do not hesitate to contact one of our friendly and experienced team members.
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