Last year, we wrote about the introduction of the requirement for Australian directors to have a Director Identification Number (Director ID). This article outlined what a Director ID is, the time frames for when a Director ID needed to be applied for and the process to apply for it.
In order to facilitate the introduction of Director IDs, the requirement to apply for a Director ID was dependent on when that director was, or was to be, appointed. Think of it as a grace period if you like. At present, a director appointed under the Corporations Act 2001 (Cth) (Corporations Act) between 1 November 2021 and 4 April 2022 has up to 28 days from the date of their appointment to apply for a Director ID (if they did not apply for or have one beforehand). Existing directors appointed under the Corporations Act on or before 31 October 2021 (before the introduction of Director IDs) have until 30 November 2022 to apply.
However, as of 5 April 2022, this “grace period” will come to an end. This means that on and from this date, a director to be appointed under the Corporations Act will need to apply for their Director ID before their appointment.
Please refer to our previous article on how to apply for a Director ID.
If you have any questions in relation to your obligations in relation to a Director ID or how to obtain one, the KKI Commercial Team is here to help.