Corporations (Aboriginal and Torres Strait Islander) Act 2006

CHAPTER 6 - OFFICERS

PART 6-7A - DIRECTOR IDENTIFICATION NUMBERS

History

Pt 6-7A inserted by No 69 of 2020, s 3 and Sch 2 item 5, effective 4 April 2021. No 69 of 2020, s 3 and Sch 2 item 9 contain the following application provisions:

9 Application of amendments
(1)
The amendments of the Corporations (Aboriginal and Torres Strait Islander) Act 2006 made by this Schedule apply on and after the day (the application day ) the Minister appoints, under section 6 of the Commonwealth Registers Act 2020 :
(a) a Commonwealth body (within the meaning of that Act) to be the Registrar (within the meaning of that Act); or
(b) if more than one such body is appointed - such a body with functions and powers in connection with Part 6-7A of the Corporations (Aboriginal and Torres Strait Islander) Act 2006 as amended by this Act.

(2)
If a person was an eligible officer immediately before the application day:
(a) if a period (the transitional application period ) is specified under subsection (3) of this section - section 308-20 of the Corporations (Aboriginal and Torres Strait Islander) Act 2006 as amended by this Act applies to the person as if:

(i) the reference in subparagraph 308-20(2)(a)(ii) of that Act as so amended to an application period specified by regulations were instead a reference to the transitional application period; and

(ii) references in paragraph 308-20(2)(a) of that Act as so amended to the day the person first became an eligible officer (or an eligible officer within the meaning of the Corporations Act 2001 ) were instead references to the day the transitional application period came into effect; and

(b) until the transitional application period comes into effect - section 308-20 of that Act as so amended does not apply to the person.

(3)
The Minister may, by legislative instrument, specify the transitional application period for the purposes of subsection (2).

(4)
If a person:
(a) was not an eligible officer immediately before the application day; and
(b) becomes an eligible officer within the 12 month period starting on the application day;
section 308-20 of the Corporations (Aboriginal and Torres Strait Islander) Act 2006 as amended by this Act applies to the person as if a period of 28 days were the application period specified in regulations made for the purposes of subparagraph 308-20(2)(a)(ii) of that Act as so amended.

SECTION 308-5 GIVING AND CANCELLING DIRECTOR IDENTIFICATION NUMBERS

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308-5(1)
The Commonwealth Registrar must, by notifying a person who has applied under section 308-10 , give the person a director identification number if the Commonwealth Registrar is satisfied that the person ' s identity has been established.

308-5(1A)

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The Commonwealth Registrar may make a request of the person under subsection (5) for the purposes of satisfying the Commonwealth Registrar that the person ' s identity has been established.

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308-5(2)
The Commonwealth Registrar must make a record of the person ' s director identification number.

308-5(3)
The Commonwealth Registrar may, by notifying a person, cancel the person ' s director identification number if:

(a) the Commonwealth Registrar is no longer satisfied that the person ' s identity has been established; or

(b) the Commonwealth Registrar has given the person another director identification number.

308-5(4)
If:

(a) at the time the person is given a director identification number under this section, the person is not an eligible officer; and

(b) the person does not, within 12 months after that time, become an eligible officer;

the person ' s director identification number is taken to have been cancelled at the end of the 12 month period.

308-5(5)

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The Commonwealth Registrar may request, but not compel, the person:

(a)

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if the person has a tax file number - to give the Commonwealth Registrar the person ' s tax file number; or

(b)

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if the person does not have a tax file number:

(i) to apply to the Commissioner of Taxation for a tax file number; and

(ii) to give the Commonwealth Registrar the person ' s tax file number after the Commissioner of Taxation has issued it.

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