If you have been following our previous articles on the obligation for directors to obtain a Director Identification Number (DIN), you may be aware that all directors must now have a DIN before being appointed – see link to our article here. On 7 March 2024, we referred to an important message from the Australian Business Registry Services (ABRS), who stated that they are continuing to engage with directors who have so far failed to apply for a DIN. Our article here reminded directors that failure to comply with these new laws may result in disciplinary action or legal penalties. Shortly after this announcement, on 19 March 2024, ASIC commenced the first prosecution against a director for failing to comply with the obligations to have a DIN. A director appeared in the Downing Centre Local Court and was formally charged with contravening section 1272c(1) of the Corporations Act 2001 (Cth) by failing to obtain a DIN. The charges were listed for a further mention on 16 April 2024. This is an important example of ASIC’s serious approach to compliance and reminds us of the ramifications for directors who have failed to comply. If you would like to read more about the DIN regime, please see here and here. Further Information If you require further information or would like to discuss how the new DIN regime might affect you, please contact our Corporate and Commercial Advisory Team. If you would like to keep up to date with Russell Kennedy Alerts, Insights and upcoming events, you can subscribe to our mailing list here.