WA directors convicted for failing director ID requirements
Two Western Australian directors have been convicted in the Perth Magistrates Court and fined $5,000 for failing to obtain director ID numbers.
Two directors based in Western Australia have been convicted ex-parte on 3 May 2024 of contravening section 1272C(2) of the Corporations Act 2001.
One was a director of Global Material Solutions Australia Pty Ltd, Alex Henry Holdings Pty Ltd, Duke Shipping Containers Pty Ltd and AII Australia Pty Ltd. The other was a director of LDM (WA) Pty Ltd and LDM Corporate Enterprises Pty Ltd.
Magistrate Crawford SM remarked that the new Director ID scheme had been enacted for a proper public purpose and considerable efforts had been made by relevant government agencies to bring the accused’s attention to the scheme and obtain compliance.
Both directors were each fined $5,000 plus costs.
The maximum penalty for an offence against section 1272C(1) of the Act is 60 penalty units, being a fine of $18,780.
The two directors have until 31 May 2024 to apply to have their convictions set aside.
This follows similar regulatory action that was undertaken against a director in NSW in March who also failed to comply with the obligation to have a director identification number.
The director appeared before the Downing Centre Local Court in March and was formally charged with one count of contravening section 1272C(1) of the Corporations Act 2001 by failing to have a director ID.
ASIC reminded directors that all directors are required by law to verify their identity with Australian Business Registry Services before receiving a director ID.
From 5 April 2022 all individuals intending to become directors must apply before being appointed.
