example, there are criminal penalties for deliberately providing false identity information to the registrar, intentionally providing a false DIN to a Government body or relevant body corporate, and intentionally applying for multiple DINs. The new requirement contains transitional provisions that apply in relation to a person that is currently appointed as a director at the time the new requirement starts to apply. Such a person has 15 months to apply for a DIN from the application day of the new requirement. Comparison of key features of new law and current law New law Current law A director of a body corporate No equivalent. registered under the Corporations Act or the CATSI Act must apply for a DIN within 28 days of becoming a director (existing directors have 15 months to apply from the date the new requirement starts). The registrar must give an applicant No equivalent. director a DIN if satisfied that their identity has been established. The registrar may exempt a person No equivalent. from needing to obtain a DIN or provide them with additional time in to apply for a DIN. The registrar is provided with powers No equivalent. to administer the new requirement including powers to record DINs, cancel and reissue DINs, determine the numbering plan for the new requirement, and determine how directors are to establish identity. A person must not engage in certain are existing penalties in the conduct that undermine the new Criminal Code that relate to providing requirement including deliberately false information to the providing false information to the Commonwealth. These offences are registrar, intentionally providing a relied upon by the new law where false DIN to a Commonwealth body appropriate. or registered body corporate, or intentionally applying for multiple DINs.
example, there are criminal penalties for deliberately providing false identity information to the registrar, intentionally providing a false DIN to a Government body or relevant body corporate, and intentionally applying for multiple DINs. The new requirement contains transitional provisions that apply in relation to a person that is currently appointed as a director at the time the new requirement starts to apply. Such a person has 15 months to apply for a DIN from the application day of the new requirement. Comparison of key features of new law and current law New law Current law A director of a body corporate registered under the Corporations Act or the CATSI Act must apply for a DIN within 28 days of becoming a director (existing directors have 15 months to apply from the date the new requirement starts). No equivalent. The registrar must give an applicant director a DIN if satisfied that their identity has been established. No equivalent. The registrar may exempt a person from needing to obtain a DIN or provide them with additional time in to apply for a DIN. No equivalent. The registrar is provided with powers to administer the new requirement including powers to record DINs, cancel and reissue DINs, determine the numbering plan for the new requirement, and determine how directors are to establish identity. No equivalent. A person must not engage in certain conduct that undermine the new requirement including deliberately providing false information to the registrar, intentionally providing a false DIN to a Commonwealth body or registered body corporate, or intentionally applying for multiple DINs. are existing penalties in the Criminal Code that relate to providing false information to the Commonwealth. These offences are relied upon by the new law where appropriate.
c2018-t330649-Exposure-draft-EM-v2.docx