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Electronic signing update

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Treasury Laws Amendment (2021 Measures No. 1) Act 2021 (Cth) has introduced measures for electronic signing by companies, commencing 14 August 2021 and due to continue until 1 April 2022.

For signing under section 127 of the Corporations Act 2001 (Cth), a document is taken to be signed by a person if:

  • a method is used to identify the person and indicate their intention to sign a copy or counterpart;
  • the copy or counterpart includes the entire contents of the document; and
  • the method used was as reliable as appropriate or proven to have fulfilled the function of identifying the person and indicating their intention to sign: new section 127(3B).

This makes it clear that companies can execute agreements and deeds electronically.