Regulation Impact Statement – Department of the Treasury
On 20 October 2021, the Government introduced legislation that makes permanent changes to the Corporations Act 2001 to clarify that companies and registered schemes can hold a physical, hybrid or virtual meeting. The legislation also facilitates for the use of technology to execute company documents, sign meeting-related materials and provide documents flexibly to their members.
The Department of the Treasury prepared and certified a Regulation Impact Statement (RIS), which the Office of Best Practice Regulation (OBPR) assessed as good practice.
The RIS estimates the average annual regulatory savings at $450 million.
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