Aug 30, 2021
With the passing of the Treasury Laws Amendment Act 2021 on 10 August 2021, electronic execution and/or utilising split execution documents by Australian companies under section 127 of the Corporations Act 2001 (Cth) are once again expressly permitted.
On 6 May 2020, in response to the Covid-19 pandemic, temporary measures under section 127 – the Corporations (Coronavirus Economic Response) Determination (No.1) 2020 (Cth) and its successor, the Corporations (Coronavirus Economic Response) Determination (No.3) 2020 (Cth), expressly provided for electronic execution and split execution of documents. However, these provisions expired on 21 March 2021 without being replaced.