The Australian Securities & Investments Commission (ASIC) has updated its frequently asked questions webpage on virtual meetings for companies and registered schemes, providing further guidance following the Australian Government’s response to the statutory review of the virtual meetings provisions. The updated FAQs explain the amendments that permit hybrid and virtual-only meetings and set out ASIC’s expectation that members should have equivalent opportunities to participate using virtual technology as they would at an in-person meeting. The guidance also covers whether a phone line option is required for virtual meetings, the use of webcasts, and how an entity should notify ASIC after amending its constitution. The update follows amendments to the Corporations Act 2001 in 2022 that gave a legislative basis to temporary COVID-19 measures, a subsequent independent panel review (final report tabled in Parliament on 9 September 2024), and the Government’s response issued on 4 February 2025, which agreed that ASIC and other bodies should provide increased guidance on virtual meetings.
Australian Securities & Investments Commission 2025-03-26
Australian Securities & Investments Commission updates guidance on hybrid and virtual-only meetings for companies and registered schemes
The Australian Securities & Investments Commission (ASIC) updated its FAQs on virtual meetings for companies and registered schemes after the Australian Government's statutory review response. The guidance clarifies amendments for hybrid and virtual-only meetings, emphasizing equivalent participation via virtual technology. It addresses phone line options, webcasts, and notifying ASIC after constitutional amendments, aligning with 2022 amendments to the Corporations Act 2001 and subsequent reviews.