COVID-19 has brought a number of challenges to the way we do
business in the RegTech sector. However, the pandemic has also
brought sharply into focus the practical difficulties associated
with executing, attesting and witnessing hard copy documents (which
is increasingly moving to digital operations for a host of reasons,
including improved customer experience and speed of transacting,
both of which are core to RegTech businesses).
Generally speaking, the Courts in Australia have taken a broad
view of valid execution of documents and support the use of
electronic and physical 'wet-ink' signatures without
prescribing special requirements. Additionally, before COVID-19,
there was legislation at the Commonwealth level and in all States
and Territories in Australia to validate the use of electronic
signatures (the Electronic Transaction Acts or
ETAs). In the past, this legislation generally
provided that certain documents, like deeds and powers of attorney
(that must be
