New laws modernise business communication in Australia

Great news for all organisations seeking a more streamlined, simple way to manage business communications. This week, the Commonwealth Government passed the Treasury Laws Amendment (Modernising Business Communications and Other Measures) Bill 2023 which allows for all company documents — including ASIC documents and deeds — to be signed electronically.

It’s a welcome move. And, having worked closely with the Government on reforms relating to the electronic execution of documents for the last three years, we’re proud to see it come to fruition.

What does it mean for companies? 

Above all else, the Treasury Laws Amendment (Modernising Business Communications and Other Measures) Bill 2023 delivers further clarity and certainty to companies who were previously unsure about what types of documents could be signed electronically. 

Now, all documents that need to be signed under the Corporations Act can be sent and signed digitally with DocuSign.

All companies will reap the benefits

Not only will the changes eliminate the confusion around who can sign what, and how, but they will also deliver all the benefits that come with electronic signing. 

Companies, lawyers and individuals will reap significant cost savings and should be able to execute company documents in minutes rather than days. For example, by executing a company document electronically, a business can save $50 per transaction on costs like printing, couriers and face-to-face meetings.

If you’re keen to start reaping savings like these on any company documents that you have been sending via post for wet-ink signatures, get in touch with DocuSign.