Companies in cyberspace

If you are running a company, there is a need to hold an AGM. Due to lockdown restrictions/social distancing measures under COVID-19 sometimes face to face meetings are not possible. Under the Corporations (Coronavirus Economic Response) Determination (No. 1) changes have been put into place from 6 May 2020 which are to continue until automatically repealed on 5 November 2020.  The changes override the rules in a company’s constitution to the contrary.  To take advantage, it is important to comply with the requirements and keep proper records. There are some handy hints in relation to member meetings at http://aicd.companydirectors.com.au/resources/covid-19/virtual-member-meetings Changes have also been made to the way directors and secretaries of companies can sign agreements to avoid face to face meetings ie on separate papers or electronic copies (ie. counterparts).  Whilst many constitutions do already provide for directors' meetings to be held electronically it is wise to take a look at your company's Constitution to see if you need to incorporate changes to allow for meetings in cyberspace.

 

 
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