No. The director ID requirement doesn't replace or change existing requirements to keep company records updated. For example, directors must notify their company of changes in address or other details. The company still needs to notify ASIC of any changes for the public record.
Director identification number
Apply for a director ID
Company directors are required by law to apply for a director identification number (director ID).
Australian Business Registry Services (ABRS) is responsible for administering director ID.
ABRS have developed an instructional video to help company directors apply online.
A director ID is a unique identifier a director applies for once and keeps forever – which will help prevent the use of false or fraudulent director identities. You do not need a director ID for each company.
All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation need a director ID.
ASIC is responsible for enforcing director ID offences set out in the Corporations Act 2001. It's a criminal offence if directors do not apply on time and penalties may apply.
When to apply
If you plan to become a director, you must apply for a director ID before you're appointed.
If you're already a director and don't have a director ID, you must apply now.
Visit the ABRS website for more information on who needs to apply, when and how.
FAQs: Director ID
If you're a director under the Corporations Act, there is no requirement to provide your director ID to the Australian Securities and Investments Commission (ASIC).
If you’re a director under the Corporations (Aboriginal and Torres Strait Islander) Act, you are required by law to provide your director ID number to your corporation record-holder (or corporations if you’re a director of more than one) within 14 days of getting your director ID. This might be your corporation secretary, another director, a contact person or an authorised agent of the corporation.
ABRS will provide support and guidance to directors to assist them to understand and meet their director ID obligation.
ASIC’s enforcement role covers four new director ID offences under the Corporations Act 2001.
|
Offence |
Legislative section |
Maximum penalties for individuals |
|---|---|---|
|
Failure to have a director ID when required to do so |
s1272C |
60 penalty units |
|
Failure to apply for a director ID when directed by the Registrar |
s1272D |
60 penalty units |
|
Applying for multiple director IDs |
s1272G |
1 year imprisonment |
|
Misrepresenting director ID |
s1272H |
1 year imprisonment |
See Fines and penalties for more information about penalties, including the value of a penalty unit.