Statement on electronic storage and execution of documents and electronic meetings
The COVID-19 pandemic has impacted companies’ ability to conduct business and highlighted the many shortcomings of the Corporations Act 2001 in an increasingly digital age.
In many locations, restrictions have made it impossible to hold a meeting where shareholders or directors are physically present in the same venue. Executing documents when people are working remotely is another challenge thrown up by COVID-19. There has also been uncertainty about the legality of companies executing documents electronically under the Corporations Act.
Governance Institute has sought counsel’s opinion on issues related to electronic storage and execution of documents and electronic meetings under the Corporations Act to assist our members with answers to many of the questions they have asked us during the pandemic.