COVID-19 relief measures relating to virtual meetings and electronic execution have expired, for now.

Corporate Update

23 Mar

Written By AGH Law

On 21 March 2021, the Corporations (Coronavirus Economic Response) Determination (No. 3) 2020 (Determination No. 3) expired. Determination No. 3 provided temporary relief during the COVID-19 pandemic, enabling companies to hold virtual and hybrid meetings, send notices of meeting electronically, and execute documents electronically.

It was largely anticipated that the Treasury Laws Amendment (2021 Measures No. 1 Bill) (the Bill) would be passed, which would have extended this relief.

However, the Bill failed to pass the Senate and, as such, Determination No. 3 has now expired with the Senate due to debate the Bill following further inquiry in August 2021.

Accordingly, companies are now only permitted to send their notices of meeting electronically to shareholders who have opted to receive electronic communication in accordance with section 249J(3A) of the Corporations Act 2001 (Cth).

If you have any queries about how these change may 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.