Modernising Business Registers program
As part of the 2020 Budget Digital Business Plan, the government announced the full implementation of the Modernising Business Registers (MBR) program.
The MBR program will establish the new Australian Business Registry Services (ABRS) and streamline how you register, view and maintain your business information with government.
The ABRS will:
- progressively roll out between 2021 and 2024
- introduce the director identification number (director ID) initiative
- bring together more than 30 ASIC registers and the Australian Business Register (ABR) in one place.
The MBR program is being implemented by the Australian Taxation Office (ATO).
On 4 April 2021, the Commissioner of Taxation was appointed as Registrar under the:
- Business Names Registration Act 2011
- Commonwealth Registers Act 2020
- Corporations Act 2001
- National Consumer Credit Protection Act 2009.
On 15 April 2021, ASIC registry staff moved to the ATO, in a Machinery of Government (MoG) administrative change to assist the Registrar.
The Registrar's role is to lead and implement the MBR program and perform statutory registry functions and exercise powers under the relevant laws.
Initially, this will also include assisting ASIC perform statutory registry functions and exercise its powers, as a delegate of ASIC.
At a later stage the Registrar will assume primary responsibility for those functions under law.
This change doesn't affect your registry obligations or how you interact with us, at this time.
From November 2021, directors will need to verify their identity as part of a new 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 Aboriginal and Torres Strait Islander corporation.
Directors must apply for their director ID themselves because they will need to verify their identity. No one can apply on their behalf.
The ABRS is responsible for the implementation and administration of director ID. ASIC will be responsible for the enforcement of associated offences.
What’s not changing
For now, how you register, search and get extracts of the registers, and interact with us remains the same.
To keep up to date with the MBR program and future changes, visit ato.gov.au/mbr