Corporations Amendment (Corporate Insolvency Reforms) Act 2020 (130 of 2020)

Schedule 4   Virtual meetings and electronic communications

Part 2   Provisions relating to insolvency

Corporations Act 2001

19   Section 600G

Repeal the section, substitute:

600G Electronic communication of documents

(1) Subject to subsection (7), this section applies to any document that is:

(a) required or permitted to be given to a person (the recipient ); or

(b) required to be signed by a person;

under:

(c) this Chapter; or

(d) an instrument made for the purposes of a provision of this Chapter; or

(e) a provision relating to the external administration of a company that:

(i) is a provision of Chapter 10; or

(ii) is a provision of an instrument made for the purposes of a provision of Chapter 10; or

(iii) is continued in effect by a provision of Chapter 10; or

(iv) is a provision of an instrument made for the purposes of a provision that is continued in effect by a provision of Chapter 10; or

(f) Schedule 2; or

(g) an instrument made for the purposes of a provision of Schedule 2.

Giving a document

(2) The document may be given to the recipient by means of an electronic communication.

(3) The document may be given by giving the recipient (by means of an electronic communication or otherwise) sufficient information to allow the recipient to access the document electronically.

(4) However, an electronic communication or electronic access may only be used if, at the time the electronic communication is used or information about the electronic access is given:

(a) it is reasonable to expect that the document would be readily accessible so as to be useable for subsequent reference; and

(b) there is a nominated electronic address in relation to the recipient.

Signing the document

(5) If the document is required to be signed by a person, that requirement is taken to have been met in relation to the electronic communication of the document, or access to the document electronically, if:

(a) the person receives a copy or counterpart of the document:

(i) that is in a physical form; or

(ii) by means of an electronic communication; and

(b) the copy or counterpart includes the entire contents of the document; and

(c) the person indicates, by means of an electronic communication, that the person has signed the document; and

(d) a method is used to identify the person and to indicate the person's intention in respect of the information communicated in the document; and

(e) the method used was either:

(i) as reliable as appropriate for the purpose for which the document was generated or communicated, in light of all the circumstances, including any relevant agreement; or

(ii) proven in fact to have fulfilled the functions described in paragraph (d), by itself or together with further evidence.

(6) For the purposes of paragraph (5)(b), a copy or counterpart of a document need not include:

(a) the signature of another person signing the document; or

(b) any material included in the document to identify another person signing the document or to indicate another person's intention in respect of the contents of the document.

Application of section to documents given to ASIC

(7) Subsections (2) to (4) do not apply to a document that is required or permitted to be given to ASIC.

(8) If:

(a) under this Act, the signature of a person is required on a document; and

(b) the person signs the document in accordance with subsection (5); and

(c) the person submits the document for lodgement;

ASIC must not refuse to receive or register the document on the basis that the document has not been signed.

Definitions

(9) In this section:

external administration of a company has the same meaning as in Schedule 2.