As many as 300,000 company directors are operating without a mandated digital identification, in breach of a new scheme designed to crack down on illegal phoenix activity.
The non-compliance eight months after the scheme began has triggered investigations by the corporate regulator, but no penalties.
The director ID is a unique 15-digit identifier that became a legal requirement for all directors, including small businesses, in mid-December, as part of the government’s troubled modernising business registers program.
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