Legal Insights
Clarification regarding electronic execution and convening of company meetings
In welcome news for company directors, the Treasury Laws Amendment (2021 Measures No. 1) Bill 2021 (Amendment Bill) to temporarily permit electronic execution and convening of company meetings has finally been enacted.
Federal Court stresses the Importance of Trust Deed Interpretation
A recent decision handed down by the Full Federal Court in Advanced Holdings Pty Limited as Trustee for the Demian Trust v FCT [2021] FCAFC 135 emphasises the important principles of trust deed interpretation and the limitations of statutory provisions concerning the evidentiary force of company records. The decision also serves as a valuable reminder for directors of small companies and corporate trustees to maintain good records.
COVID-19 Company Admin Update
Further to our article here where we wrote about the Australian Securities and Investments Commission’s (ASIC) guidance regarding annual general meetings and the COVID-19 pandemic, the Treasurer has released the Corporations (Coronavirus Economic Response) Determination (No 1) 2020 (Cth) (Determination), which commences on 6 May 2020 and will be automatically repealed on 5 September 2020.
ASIC v King – Are you an “officer” of a company?
In this case, the High Court reiterated that a person can be deemed to be an “officer” of a company even if that person does not hold a position as a named ‘Director’ or ‘Secretary’.