Opened the debate
Ayres argued that the bill was necessary to prevent disruption to business registers by repealing legacy provisions from the former Modernising Business Registers program that would otherwise commence on 1 July 2026. The member stated that allowing those provisions to take effect would transfer responsibility away from the Australian Securities and Investments Commission to the Registrar framework, causing significant operational instability. Ayres explained that the bill supports the RegistryConnect program, which is delivering improvements such as streamlined digital services and the linking of Director Identification Numbers to the Companies Register. The member highlighted that Schedule 1 enables this linking to improve transparency and combat illegal phoenix activity, while Schedule 2 provides the regulator with modern powers for electronic communications and data security. Ayres noted that the core requirement for companies to lodge Director ID information with the regulator is scheduled to commence on 1 July 2027 to allow for system preparation.