We are seeing an increasing number of accounting firms that we assist with company establishments opt to receive all documentation electronically, as opposed to the traditional provision of a physical folder to store the company register.
The ability to maintain a company register in electronic form only is a relatively recent innovation under the Corporations Act and particularly for accountancy firms who act as registered office for a number of their clients’ companies, is certainly one worth exploring.
Obviously, there are a number of issues that always need to be taken into account, however broadly, so long as the following issues are addressed, it should be possible to avoid the need for a physical register to be stored:
1. The company must resolve that it intends to maintain an electronic, as opposed to a physical, register.
2. The relevant technology steps need to be taken - McR often assists accounting firms in this regard.
3. The company must have a process by which a physical register can be produced if ever required.
Until next week.
