ASIC releases guidelines for AGMs

 

ASIC releases guidelines for AGMs

ASIC has recently released guidelines for upcoming AGMs in light of the COVID-19 crisis.

2020-03-26

Public companies with a 31 December year end would typically need to hold an AGM by 31 May 2020. However, ASIC has said the following:

  • They will take no action if AGM dates are postponed by up to 2 months

  • They support the use of appropriate technology to facilitate AGMs

  • They further stated that they would caution entities against holding AGMs while there are restrictions on large gatherings

  • The commissioner stated that degree of flexible pragmatism was needed to deal with the issue and that their position was under continuous review

  • ASIC is also closely monitoring developments that may impact upcoming financial reporting requirements.

How ShineWing Australia can assist

  • Giving our clients access to our technology to enable them to have remote AGMs if they consider it appropriate

  • Advise them on current reporting requirements.

 

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Get in touch

René Muller

E rmuller@shinewing.com.au

Hayley Underwood

E hunderwood@shinewing.com.au