DCCL COVID-19 Resource Centre: Issue 5

This is our fifth publication of useful resources for our clients during the current coronavirus disruption. Our previous publications are available here. Clients are welcome to raise specific issues which they would like us to comment upon in future publications.

Changes allow wider electronic execution of documents by company officers

Following the Corporations (Coronavirus Economic Response) Determination (No. 1) 2020 (Cth), companies can execute documents by electronically signing counterparts, provided that each electronic counterpart contains the entire contents of the document, and provided the requirements of the Electronic Transactions Act 1999 (Cth) (ETA) (which are explained in our website article) are satisfied. Further, and importantly, other persons are entitled to rely upon the assumptions under section 129 of the Corporations Act (including an assumption that the document was validly executed) in relation to documents which have been signed