coronavirus

Companies can no longer e-sign documents

Note: this regulatory relief has expired.  Please see Dundas Lawyers article: Covid imposed e-signing to remain.

As of 21 March 2021, the Corporations (Coronavirus Economic Response) Determination (No 3) 2020 (Cth) (Determination) lapsed because it reached the end of its six (6) month period as prescribed by section 9(3) of the Determination.  This means that the ability for companies to execute documents electronically, or e-signing, is no longer acceptable under subsection 127(1) of the Corporations Act 2001 (Cth) (Act).  Section 6(3)-(4) of the Determination authorised e-signing in response to the COVID-19 restrictions, as stated in the Explanatory Statement:  [Read more…]

Electronic execution of documents by directors

Note: this regulatory relief has expired.  Please see Dundas Lawyers article: Covid imposed e-signing to remain.

Because of the current COVID-19 restrictions, it has been inconvenient and even impossible (in some cases) for directors to sign documents in what’s known as “wet-ink”.  In order to address this issue the Corporations (Coronavirus Economic Response) Determination (No. 1) 2020 (Cth) (Determination) has been published by the Federal Government.  The Determination modifies the operation of section 127 of the Corporations Act 2001 (Cth) (Act) and other legislation in relation to the conduct of meetings and the execution of documents by companies.  The meaning of “Document” has been amended to include a document’ in electronic form. [Read more…]

Relief for companies during COVID-19

On 24 March 2020, the Federal Government passed the Coronavirus Economic Response Package Omnibus Act 2020 (Cth) (Act).  As a part of the Act, insolvency and corporations laws have been temporarily amended in light of the financial challenges businesses are facing in the wake of COVID-19.  The changes made are intended to avoid unnecessary insolvencies and bankruptcies by providing a safety net for companies and their directors during the pandemic.  This article will discuss the key changes. [Read more…]

The new business as usual in 2020 and beyond!

It’s perhaps an understatement to say that the last few for Australian business has been unprecedented.  How can any business plan adequately consider and cater for a global pandemic and mass business shutdowns?  Extraordinary seems to be the new business as usual (BAU) in 2020 and beyond! [Read more…]

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