23 February 2021
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Virtual AGMs in Australia are here to stay at least until September. Treasurer Josh Frydenberg recently announced that the temporary relief measures allowing Australian organisations to hold virtual AGMs and sign/send documents electronically has been extended from 21 March until 15 September 2021.
Introduced during the height of the COVID-19 crisis in Australia, the Treasury Laws Amendment (2021 Measures No. 1) Bill allows Australian organisations to use technology to meet regulatory requirements to hold meetings, such as annual general meetings, distribute meeting-related materials and validly execute documents.
The government will also conduct a 12 month opt-in pilot for companies to hold hybrid annual general meetings, to 'enable a proper assessment of the shareholder benefits of virtual meetings'. Hybrid annual general meetings combine an in-person meeting with a virtual meeting, allowing participants to attend either physically or online, and organisations to enjoy the benefits of both.
The Australian government have made these changes to 'allow businesses to continue to comply with their regulatory requirements as they continue to deal with and emerge from the COVID-19 pandemic'.
If you've been holding regulatory-required meetings using virtual technology (ie. virtual AGMs and virtual investor meetings) already, you can continue to do so until at least 15 September 2021.
If your organisation is yet to host its first virtual AGM, or you are considering provider options, there's never been at better time to start with Express Virtual Meetings!
We're here to help you deliver a seamless and secure virtual AGM for your team, board and investors, just as we have for many public, private and not-for-profit Australian organisations.
We work with you to:
Book an obligation-free demonstration of our managed virtual AGM solution and receive 10% off your first event. We'll show you how you can deliver a professional and engaging virtual AGM that's easy, stress-free and managed for you, end-to-end. To book in a demo with our virtual events team at a time that suits you, click here.
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