Senate Permanently Allows for Electronic Signing, Witnessing, & Virtual Meetings
February 2022 | Natasha Thomas
COVID-19 has highlighted the contemporary need for law reform concerning the legal validity of electronic documents, and virtual company meetings. To learn more about how the law has adapted to COVID-19 see our article here.
Responding to these changes and pressures, on 10 February 2022 the Senate passed the Corporations Amendments (Meetings and Documents) Bill 2021, its reforms permanently modernising corporation law.
The reforms outlined in this legislation include:
allowing companies to hold meetings in-person, virtually or as a hybrid – given this is expressly permitted by the company constitution;
allowing companies to distribute documents in hardcopy or electronically; and
allowing documents, including deeds, to be executed in-person or through the use of technology.
These long-awaited reforms will come into effect on 1 April 2022.
If you have any questions or concerns regarding how these reforms will impact you, do not hesitate to contact us.