Director Identification Numbers will be introduced by ASIC later this year. A director ID is a unique identifier that a director will keep forever, and provides traceability of a director’s relationships over time, and across companies, to help regulators and external administrators to investigate a director’s involvement in unlawful activities, including illegal phoenix activity.
The need for Responsible People to have a director ID will only affect charities that have directors (e.g. companies, ORIC registered companies, ARBNs). The earliest date director IDs will come into effect is late 2021, and affected charities will be contacted before directors need to apply for a director ID.
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