As part of the Federal Government’s Modernising Business Registers (MBR) program, the mandatory requirement for eligible officers, including company directors, to have a Director Identification Number (DIN) commences its phase-in period from 1 November 2021.
The MBR program rollout will take place over the course of the next three years and aims to streamline how individuals register, view, and maintain business information, enhance the integrity of that information, and improve the efficiency of registry services.
Who needs to apply for a DIN?
The requirement to apply for a DIN applies to ‘eligible officers’, which currently includes directors and alternate directors of a:
- company, or a body corporate that is a registered Australian body or registered foreign company under the Corporations Act 2001 (Corporations Act); or
- an Aboriginal and Torres Strait Islander corporation registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act).
When do applications need to be made?
The deadline for eligible officers to apply for a DIN is transitional and dependent upon the date of the eligible officer’s appointment. The various deadlines are summarised in the table below:
|Date of appointment||Corporations Act||CATSI Act|
|Prior to 1 November 2021||By 30 November 2022||By 30 November 2023|
|Between 1 November 2021 and 4 April 2022||Within 28 days of appointment||By 30 November 2023|
|Between 5 April 2022 and 31 October 2022||Before appointment||By 30 November 2023|
|From 1 November 2022||Before appointment||Before appointment|
How to apply for a DIN
From 1 November 2021, company directors and their alternates can apply to the Australian Business Registry Services (ABRS) for the issuance of a DIN via the ABRS website. Unlike the current system whereby company directors are not required to verify their identity with the Australian Securities and Investments Commission (ASIC), under the DIN regime a company director is required to verify their identity when applying for a DIN. It is intended that applicants will utilise the identify verification process within the existing MyGovID system.
Each applicant will be issued with a DIN, being a unique 15-digit identifier that will be permanently associated with that person. Accordingly, where an eligible officer ceases or commences an appointment or is no longer acting as in eligible officer, there will be no requirement to cancel their DIN nor apply for a new one.
If you require any further advice in relation to DIN compliance obligations, the corporate law team at Wisewould Mahony have extensive knowledge and experience in respect of corporations law and directors’ duties and requirements.