PwC Remote Meeting Room for meetings of shareholders and executive bodies
25/05/20
PwC Remote Meeting Room for meetings of shareholders and executive bodies
Since the COVID-19 legislation passed, Austrian corporate entities have the possibility to hold the meetings of their shareholders and executive bodies (eg management board, supervisory board) online without the need for physical presence. PwC can help you by providing an online meeting room.
The new law
According to the new legislation, video conference meetings are permitted, if there is an acoustic and optical two-way connection in real time. Half of the participants may even participate having only an audio connection (ie via telephone). Nonetheless, it must be ensured that all participants are able to speak and join the voting. It also is important to note, that the regulations concerning the convening and conduct of such (then virtual) meetings must still be observed. In particular, notarial certification obligations continue to apply, especially when holding general meetings of an AG. However, these obligations have also been adapted to modern standards by extending the use of electronic means of communication for notarial acts.
The new regulations on corporate meetings, which are particularly interesting for internationally active (group) companies, currently only apply until the end of 2020. It is yet unclear, whether these corporate law simplifications will also be included in the post-COVID-19-legislation. Changing (remote) working realities will most likely require them.
How can PwC help you here?
Together with our technical experts, we have built the PwC Remote Meeting Room to provide you with the legal and technical support that you need. The PwC Remote Meeting Room is a virtual, password-protected conference room that you can use not only for your shareholders' meetings and board meetings, but also for your customer appointments. Most importantly, the PwC Remote Meeting Room will not expire and can be used beyond 31 December 2020. The only requirements for using the PwC Remote Meeting Room are a PC/laptop with camera and microphone and a strong internet connection. If the involvement of a notary is required for your meeting, we will be happy to coordinate this for you.
You can find more information about the PwC Remote Meeting Room here.
You can also find more details about the legislation for holding meetings of shareholders and board members in our legal blog: "COVID-19: Decision-making under company law – what can be done remotely?”
Author: Matthias Trummer
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Copyright and Publisher: PwC Österreich GmbH Wirtschaftsprüfungsgesellschaft, Donau-City-Straße 7, 1220 Vienna, Austria
Editor: Ines Hofbauer-Steffel, ines.hofbauer-steffel@at.pwc.com
The above information is intended to provide general guidance only. It should not be used as a substitute for professional advice or as the basis for decisions or actions without prior consultation with your advisors. While every care has been taken in the preparation of the publication, no liability is accepted for any statement, option, error or omission.
PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.
Kontakt
Partnerin, Leiterin Steuer- und Rechtsberatung, PwC Austria
Tel: +43 699 101 491 92
