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
- bring together 31 ASIC registers and the Australian Business Register (ABR) in one place
- introduce the director identification number (director ID) initiative.
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.
Director identification number
The MBR program includes the introduction of a director identification number (director ID) – a unique identifier that a director will keep forever.
It’s important the identity of directors is verified. This will:
- help prevent the use of fictitious director identities and make it easier for government regulators to trace directors’ relationships with companies over time
- go a long way to identifying and eliminating director involvement in unlawful activity, such as illegal phoenix activity.
Directors don’t need to do anything now. The ATO is testing the director ID application process in a private beta. For more information visit ato.gov.au/mbr
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