Both Houses pass the TLA 1 Bill providing certainty around electronic execution and virtual meetings.
On 10 August 2021, the Treasury Laws Amendment (2021 Measures No. 1) Bill 2021 (TLA 1 Bill) passed both Houses of Parliament, and is now awaiting assent.
The Bill, which is seen as temporary relief, will enable companies to use electronic means to execute documents, hold meetings and send meeting related documents until the sunset date of 31 March 2022. Following this, the Federal Governments intends to enact permanent reforms to this effect.
This temporary legislation will provide much welcomed certainty particularly as AGM season nears closer.
You can read our previous updates on the TLA 1 Bill here, and we will continue to keep you updated.
If you have any queries regarding the TLA 1 Bill and how this might affect you, get in touch with our team.
Important
The contents of this publication should not be relied upon as legal advice, but instead as commentary and general information. Specific legal advice about your circumstances should always be sought separately before taking any action based on this publication.
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