Electronic signing measures back in place again (for now)

The Commonwealth Parliament passed the Treasury Laws Amendment (2021 Measures No.1) Bill 2021 yesterday (10 August 2021).  The legislation is not yet in force but is expected to receive royal assent quickly.

The legislation provides for more flexible measures for companies to sign documents – including remotely witnessing the affixation of a company seal and, perhaps most importantly, the split execution of documents such that two officers signing on behalf of a company do not have to sign the same physical piece of paper.

The measures have been in place before but expired earlier this year.  The new changes are also temporary and, without extension, will expire on 31 March 2022.

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