Amendments the Corporations Act 2001 to:

  • establish a permanent mechanism to allow companies and registered schemes to hold hybrid (in person and remote) meetings – effective from 1 April 2022.
  • use technology to execute, sign and share company and meeting related documents – effective from 23 February 2022.

In a nutshell …

The purpose of the Corporations Amendment (Meetings and Documents) Bill 2022 is to amend the Corporations Act 2001 (Corps Act) to allow: 

  • companies to use technology to execute company documents such as contracts and deeds and to also sign meetings-related documents and provide those to their members
  • companies and registered schemes to hold hybrid meetings, such as annual general meetings (AGMs) – giving members the option of either attending in person or remotely.

The 2022 Bill passed by both Houses of Parliament on 10 February 2022. The 2022 Bill received royal assent on 22 February 2022.

Specifically, the reforms provide greater certainty and flexibility to companies and registered schemes by:

  • allowing them to hold physical and hybrid meetings, and if expressly permitted by the entity’s constitution, wholly virtual meetings
  • ensuring that technology used for virtual meetings allows members to participate in the meeting verbally and in writing
  • allowing them to use technology to execute documents electronically, including corporate agreements and deeds
  • allowing them to send documents in hard or soft copy and give members the flexibility to receive documents in their preferred format.

The 2022 Bill now makes permanent the changes noted above. These changes are welcomed by entities given the continuing evolving COVID-19 impacts on physical meetings and deliverables. They are an effective modernisation of the provisions of the Corps Act.

Michael Voogt
Director, Department of Professional Practice

Further detail on the above measures can be found in the PDF version of the Reporting Update.

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