New Requirements for Directors Regarding Director Identification Number
The Federal Government recently passed new laws1 requiring any person who is a director of a corporation, including those corporations registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act Corporations), to get an individual “Director Identification Number” (DIN)2. For CATSI Act Corporations3, depending on when a person is appointed as a director (including being appointed as an alternate director) will determine when that person must obtain their DIN4. How to get a DIN: There are three (3) ways to obtain a DIN: Apply online by setting up a “myGovID” profile (different to a “MyGov” profile for Centrelink purposes) at www.mygovid.gov.au; Apply over the phone by calling 13 62 50 and answering some proof-of-identity questions; or Apply…