WA directors fined over ID failure

Two Western Australian directors have been convicted and fined after the court found they failed to comply with identification requirements.

The Perth Magistrates Court fined Alexander Henry and Luke David Mason $5,000 each last week.

Mr Henry is a director of Global Material Solutions Australia, Alex Henry Holdings, Duke Shipping Containers and AII Australia while Mr Mason is a director of LDM (WA) and LDM Corporate Enterprises, according to the Australian Securities and Investments Commission.

The corporate watchdog said both directors did not have a director identification number, which was needed under the law.

In a statement released today, ASIC said all directors were required to verify their identity with Australian Business Registry Services before receiving a director ID.

“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,” ASIC’s statement reads.

“Mr Henry and Mr Mason were each fined $5,000, plus costs in the sum of $171.71. “

The maximum penalty for the offence is a fine of $18,780.

According to ASIC, directors appointed before November 1 2021 had until November 30 2022 to apply for the director ID.

Intending new director must apply before being appointed since April 5 2022.