IN FOCUS – Director Identification Numbers
Another tool in the regulatory arsenal to combat phoenix activity has passed parliament and is awaiting royal assent.
The Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2019 (Cth) amends the Corporations Act to require all company directors including foreign and alternate directors to hold a unique identification number “(DIN)” issued and administered by ASIC.
A DIN is a unique numerical identifier attributed to each director in perpetuity.
For more information including who must apply for a DIN, please read the full article here.