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.

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