From November 2021 the Australian Securities & Investments Commission has advised that company directors will need to verify their identity as part of a new director identification number (director ID) requirement.
A director ID is a unique identifier that a director will apply for once and keep forever.
This applies to directors if their organisation is a company, registered foreign company, registered Australian body or Indigenous corporation.
Directors must apply for their director ID themselves as they will need to verify their identity. No one can apply on their behalf.
The new Australian Business Registry Services (ABRS) is responsible for the implementation and administration of director ID. Director ID must be applied for based on the date of appointment below:
More information & how to apply can be found at www.abrs.gov.au/director-identification-number/about-director-id.
Contributed by Gayle Hutchings.