The Federal Government has passed the Corporations (Coronavirus Economic Response) Determination (No. 3) 2020 which repeals Determination No. 1. This continues the modifications to the Corporations Act 2001 (Cth) previously brought in permitting the use of technologies for the purposes of conducting meetings and for the execution of documents.
Determination No. 3 has commenced in that it has repealed Determination No. 1 and is in effect until 21 March 2021.
In summary the modifications in relation to meetings permit:
The determination also provides for the execution of documents by a company by either:
Whether a company executes a document in its physical form or electronically, the signature must be affixed to the entire document, but does not need to include the signature of any other person signing the document (merely signing the execution page will not comply with the determination).
As you are no doubt aware this is but one of many changes enacted in order to provide opportunity for companies and businesses to continue to operate in forced circumstances beyond their control.
If you have any queries or need assistance please contact us.
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