Coronavirus (COVID-19) updates from the Australian Government

Making permanent reforms in respect of virtual meetings and electronic document execution

This consultation process has now been completed. Submissions available
Date
-
Consultation Type
Exposure Draft

Key Documents

The Government is seeking stakeholder views on exposure draft legislation that makes permanent changes to the Corporations Act 2001 in relation to virtual meetings and electronic document execution. By modernising the Corporations Act 2001 and associated regulations through these reforms, companies have the opportunity to utilise technology to satisfy their legal obligations.

The reforms make permanent the temporary relief, which allows companies to hold meetings virtually, send meeting-related materials electronically and validly execute documents electronically. In response to stakeholder feedback, the reforms proposes additional enhancements to ensure corporate accountability and transparency. Overall, the permanent reforms will provide companies flexibility when engaging with their shareholders, reduce costs and drive efficiencies.

On 15 June 2020, the Government also announced that Modernising Business Communications will be a priority area for its Deregulation Taskforce. As part of this work, the Government will separately consult on how other Commonwealth legislation may be made technology neutral.

Public consultation on the exposure draft legislation and explanatory material will close on 6 November 2020.

Submissions

62 submissions were received for this consultation.

AMP - pdf 107.21 KB
Bank Reform Now - docx 47.86 KB
Boardroom - docx 125.36 KB
CGI Glass Lewis - pdf 229.05 KB
Clayton Utz - pdf 71.76 KB
Clubs Australia - pdf 162.88 KB
Computershare - pdf 75.08 KB
Corpgov Pro - pdf 116.47 KB
CPA Australia - pdf 80.42 KB
DocuSign - pdf 255.66 KB
EOS at Federated Hermes - pdf 125.05 KB
Erebor - pdf 637.41 KB
ethinvest - pdf 488.41 KB
Gilbert + Tobin - pdf 274.39 KB
Herbert Smith Freehills - docx 104.46 KB
IOOF Holdings - docx 177.33 KB
Justice Connect - pdf 227.05 KB
Law Council of Australia - pdf 273.48 KB
Lighter Footprints - docx 27.97 KB
Link Group - pdf 163.91 KB
Listcorp - pdf 646.05 KB
Martin Currie - pdf 469.29 KB
Milford Asset Management - pdf 217.98 KB
Nosworthy, Beth - pdf 575.15 KB
Ownership Matters - pdf 138.28 KB
Perpetual Investments - pdf 456.62 KB
Queensland Law Society - pdf 652.07 KB
Resolution Capital - docx 81.92 KB
Sandon Capital - pdf 193.49 KB
SMSF Association - pdf 163.68 KB
Solvency Accountants - pdf 913.74 KB
St Barbara Limited - pdf 110.91 KB
Sutherland, Peter - docx 88.33 KB
Walrus Committee - docx 786.32 KB
Wilson Asset Management - pdf 728.69 KB