Members of boards of directors will now have to have unique
director identification numbers as a way of combating phoenix
companies where businesses are sent broke but their assets rise
again in another company.
The federal government says illegal phoenixing costs the economy
up to $3.2 billion a year. Among the latest measures are making directors
personally liable for GST liabilities and preventing directors
from backdating their resignations to avoid personal liability.
The idea of a unique director number, recommended by the
Productivity Commission in 2015, is being introduced to assist in
the identification of recurring c…
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