Bill
Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2019
lapsed, as at 2019-04-11. Treasury portfolio.
- Sponsor
- Not recorded
- Portfolio
- Treasury
Recorded stages
- introduced — 2019-02-13
- second reading — 2019-02-13
- other — 2019-04-11
Divisions
No divisions recorded. Most questions are decided on the voices; this does not establish that a bill was unopposed.
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2019-02-13.
This bill is part of a package that would modernise Commonwealth business registers and introduce a director identification number requirement.
The package would allow a minister to appoint an existing Commonwealth body as registrar, with powers and functions set out in existing laws and data standards made by the registrar.
Directors of bodies registered under the Corporations Act or CATSI Act would need to apply for a director identification number before appointment, with transitional arrangements for current directors.
- Modernises Commonwealth business registers by creating a flexible, technology-neutral registry regime initially applying to ASIC and Australian Business Register registers.
- Introduces a director identification number requirement for directors of bodies under the Corporations Act and CATSI Act.
- Gives the registrar powers to issue, cancel and reissue director identification numbers, and to make data standards by legislative instrument.
- Creates civil and criminal penalties for directors who fail to apply for a director identification number within the applicable timeframe.
- Allows the registrar or a senior staff member to issue infringement notices for such failures.
- Provides transitional provisions giving current directors time to apply for a director identification number, with an extra 28 days during the first 12 months.
Directors of bodies registered under the Corporations Act or CATSI Act, and the registrar appointed to administer the new regime.
Sources
em
billhome