Welcome to Issue 55 of the SA Public Sector Newsletter.
From 14 August 2021 companies can (once again) electronically execute documents under section 127 of the Corporations Act 2001 (Cth) (Corporations Act).
The new changes to the Corporations Act were implemented by the Treasury Laws Amendment (2021 Measures No. 1) Act 2021 (Cth) (Act), which attained Royal Assent on Friday, 13 August 2021. As with the changes introduced by the now lapsed Corporations (Coronavirus Economic Response) Determination (No.1) 2020, these amendments will facilitate the business activity of companies during a time of lockdowns and limited mobility, where wet-ink signatures and face to face meetings are difficult or impossible to achieve.
The changes took effect from 14 August 2021 (with no retrospective application) and will automatically lapse on 31 March 2022. However, the Explanatory Memorandum in respect of these amendments sets out the Government’s intention to implement permanent reforms to allow electronic execution under section 127 before the temporary measures expire.View PDF