By Tim Downing, Partner and Prue Tyson, Lawyer
As outlined in our most recent alert in October (restated below), directors who were first appointed as a director of a company on or before 31 October 2021 must apply for a DIN before the end of November. Otherwise, they risk facing significant criminal and civil penalties.
Directors who were first appointed as a director of a company on or before 31 October 2021 have until 30 November 2022 to apply for a DIN. If you are such a director and have not yet applied for your DIN, you should ensure that you do so as soon as possible.
Directors should be aware that a failure to meet this deadline carries with it potential criminal and civil penalties.
This impending deadline does not change the existing requirement imposed on intending new directors, being that they must apply for a DIN prior to their appointment. It also does not apply to directors of Aboriginal and Torres Strait Islander companies registered under the Corporations (Aboriginal and Torres Strait Islander Act 2006 (Cth) who have a different timeframe in which to apply.
We encourage directors appointed on or before 31 October 2021 who do not already have a DIN to visit our April 2022 (accessible here) and our August 2020 (accessible here) updates for a general overview of the DIN regime and consequences for non-compliance.
For a step-by-step guide to making a DIN application, applicants should visit the Australian Business Registry website (accessible here).
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