Treasury has released for consultation a draft Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2018 to provide a legal framework for the introduction of Director Identification Numbers (DINs).

The draft legislation sets out who will be required to obtain a DIN, the obligations associated with a DIN, the consequences of not meeting those obligations and how DINs will be administered. Details on specific implementation options are currently being considered and will be separately consulted on shortly. Background.

Government Registers
In the 2018-19 Budget, the Government announced it will modernise the Australian Business Register (ABR) and the 31 Australian Securities and Investments Commission (ASIC) business registers onto a single platform that will be administered by the Australian Business Registrar within the Australian Taxation Office (ATO).

The draft legislation would allow the appointed Registrar (or Registrars) the ongoing flexibility to adapt and respond to changes in technology to improve the user experience and simplify the way clients interact with government business registers.