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ARTICLE · 13 JULY 2021

New consultation released: draft legislation for permanent reforms for virtual meetings and electronic execution

Piper Alderman
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Permanent changes to enable electronic execution of documents & distribution of meeting-related materials etc are proposed.

AustraliaCorporate/Commercial Law
Andrew Rankin
Andrew Rankin
Caren Klavsen
Caren Klavsen
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The government recently released for consultation draft legislation (Treasury Laws Amendment (Measures for Consultation) Bill 2021) (Consultation Bill) that proposes to make permanent changes to enable electronic execution of company documents, distribution of meeting-related materials and use of technology in meetings.

Context of proposed amendments

  • The Treasury Laws Amendment (2021 Measures No.1) Bill 2021 (2021 Measures Bill) was introduced to allow companies and registered schemes to hold virtual meetings and electronically sign documents until 15 September 2021. That Bill is yet to be passed. See our earlier update here.
  • The Consultation Bill proposes to amend, and add to the previous reform proposals outlined in the 2021 Measures Bill. In particular, the Consultation Bill clarifies the use of hybrid and virtual meetings and provides additional detail around how electronic execution is to be undertaken.

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