Businesses can now officially meet their legal obligations with electronic signatures – SigniFlow.
The Morrison Government has endorsed the electronic signing of company documents under section 127(1) of the Corporations Act 2001 (Cth).
For an initial period of six months, from 6 May 2020 to 5 November 2020, companies will be able to electronically validate documents that were previously required to be physically signed, using e-signatures.
The changes, which Federal treasurer Josh Frydenberg says aim to make it easier for business to operate during Covid-19 will:
“Give businesses certainty that when company officers sign a document electronically, the document has been validly executed; [and] allow company officers to sign a document electronically. Previously, in a number of cases, signatories were required to sign the same physical document. This will ensure that documents are able to be properly executed at a time when ordinary business operations have been disrupted.”
Read the full media release by Treasury HERE.
Read more on SigniFlow Australia HERE