In December, I wrote about the “war path” tactics the Australian Securities and Investments Commission (ASIC) was using to achieve better compliance by directors in registering for their director identification number (DIN).

On 19 March 2024, a director appeared in the Downing Centre Local Court in Sydney and was formally charged with one count of contravening section 1272C(1) of the Corporations Act 2001 by failing to have a DIN. The matter is listed again for mention on 16 April 2024. The identity of the director remains confidential and is subject to a non-publication order.

This is the first of no doubt many such prosecutions.

The maximum penalty for an offence under section 1272C(1) of the Corporations Act is 60 penalty units, which equates to a maximum penalty of $13,320.

ASIC has not issued any further details about the charge.

Directors should note:

  • the proceedings are criminal in nature. Any penalty imposed by the court results in a criminal record against the individual director.
  • Criminal records can have a knock-on effect for an individual who may hold a particular license (like a liquor license), or have to be a “fit and proper person” to conduct their business (such as a lawyer!)
  • Any director who does not yet hold a DIN is potentially exposed to these criminal sanctions, and the simplest way to avoid such a prosecution is to go to the Australian Business Registry Service ( and register for a new DIN.
  • If you intend to become a director, you must now register for your DIN before being appointed.

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This article is for general information purposes only and does not constitute legal or professional advice.  It should not be used as a substitute for legal advice relating to your particular circumstances.  Please also note that the law may have changed since the date of this article.