The Corporations (Eligible Officer Exclusion – non-individuals and resigned directors) Determination 2022 (LI 2023/1) and Corporations (Aboriginal and Torres Strait Islander) (Eligible Officer Exclusion – resigned directors) Determination 2023 (LI 2023/2) were registered on 17 February 2023.

The instruments operate to exempt the following two categories of persons from the obligation to obtain a Director Identification Number (Director ID):
– Resigned and removed directors: The instrument operates to exempt persons who have ceased to hold any role as a ‘director or alternate director acting in that capacity’ prior to 1 December 2022 (for directors under the Corporations Act 2001 (Cth) (Corporations Act) or 1 December 2023 (for directors under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (Cth));
– Corporate directors (ie non-individual entities that hold a role as a director under the Corporations Act) are also exempt.

The exempt directors do not become liable to any penalties for not applying for a director ID.

If you found this article helpful, then subscribe to our news emails to keep up to date and look at our video courses for in-depth training. Use the search box at the top right of this page or the categories list on the right hand side of this page to check for other articles on the same or related matters.

Author: David Jacobson
Principal, Bright Corporate Law
Email:
About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.