This is a reminder that the Corporations (Coronavirus Economic Response) Determination (No.3) 2020 expired on 21 March 2021, meaning that the pre-COVID requirements under the Corporations Act 2001 (Cth) (Corporations Act) apply in relation to the execution of documents by company officers and the holding of company meetings.

A company wishing to execute a document under s 127 of the Corporations Act may not do so electronically, unless the company has a constitution which empowers them to sign agreements electronically.

However, ASIC published a media release on 29 March 2021 stating that it would adopt a temporary ‘no action’ position in relating to the convening and holding of virtual meetings, but this does not affect the position on no electronic signing under the Corporations Act.

Leave a Reply

%d bloggers like this: