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