On 26 March 2025, ASIC released updated guidance that clarified expectations around virtual meetings for companies and registered schemes. It is a response to recommendations from the Statutory Review of the Meetings and Documents Amendments – final report.
In this article, we break down the guidance, pull out the essential details company secretaries and need, and provide practical steps for delivering compliant AGMs in 2025 and beyond.
Balancing accessibility and accountability in modern AGMs
With stakeholders demanding greater transparency and accessibility, corporate governance has become increasingly complex. AGMs are now seen as a yearly straw poll of company sentiment— highlighting their evolution beyond compliance, AGMs have become critical touchpoints for investor relations.
Today’s shareholders expect seamless participation regardless of location, whilst regulators maintain that the fundamental purpose of AGMs—enabling shareholders to exercise their rights and hold companies to account—must remain uncompromised.
Key changes in ASIC's 2025 guidance
Hybrid meetings are now permanently permitted
Since 1 April 2022, the Corporations Act expressly permits hybrid AGMs—combining in-person and online participation—regardless of constitutional wording. This represents a permanent shift from the temporary COVID-19 measures, providing companies with flexibility whilst maintaining governance standards.
Remote attendees must have equivalence of participation
The guidance emphasises that remote participants must have "equivalent opportunities to participate" as in-person attendees. This means virtual attendees must be able to ask questions, make comments, and vote with the same ease as those physically present.
Interactive technology is required
Broadcasting proceedings via webcast is insufficient. ASIC clarifies that meeting platform technology must facilitate engagement through genuine two-way participation through live Q&A functionality and real-time polling capabilities.
Telephone lines are not mandatory
In welcome news for many companies, ASIC has confirmed that dial-in telephone lines are not mandatory, provided the chosen virtual meeting platform allows members to exercise their rights both orally and in writing, whilst meeting broader participation requirements.
Changes to voting formalities and legal “place” of meeting
All resolutions at ASX-listed AGMs must be decided by poll rather than a show of hands. For legal purposes, hybrid AGMs are deemed to occur at the main physical venue, whilst virtual-only meetings are considered to occur at the company's registered office.
Four practical steps for compliance
- Review constitutional provisions
Whilst hybrid meetings are now generally permitted, virtual-only AGMs still require express constitutional authority. Review your constitution to ensure it supports your intended meeting format, and notify ASIC of any amendments as required.
- Select and test interactive platforms
Boards and company secretaries may consider the range of platforms on offer, but should rely on their chosen provider to vet each solution thoroughly—testing for resilience, accessibility and user-friendliness—and to provide comprehensive technical support.
- Draft comprehensive meeting notices
Your service provider should supply concise, step-by-step instructions for online attendance, provide direct contact details for technical support, and outline reliable alternative arrangements should digital tools fail.
- Update internal procedures
Revise your AGM procedures to accommodate hybrid formats. This includes polling mechanisms, minute-taking processes, and protocols for managing technical disruptions whilst maintaining meeting validity.
Looking ahead: Future-proofing your AGMs
ASIC's updated guidance provides clarity for running hybrid AGMs. Embracing technological change can realise several benefits that should be taken into account when deciding whether hybrid AGMs are right for your organisation and investors.
Sustainability considerations
Hybrid AGMs can significantly reduce travel-related emissions while improving accessibility for interstate and international shareholders. This aligns with growing ESG expectations and demonstrates a commitment to sustainable business practices.
Enhanced accessibility and engagement
Virtual participation options can democratise shareholder engagement, particularly benefiting smaller investors who may not typically attend in-person meetings. This broader participation can provide valuable insights into shareholder sentiment.
Continuous improvement approach
Establish feedback mechanisms to assess the effectiveness of your hybrid AGM approach. Regular evaluation ensures your meetings continue to meet both regulatory requirements and stakeholder expectations as technology and expectations evolve.
How Automic can support your hybrid AGM
Successful AGMs require seamless integration of technology and governance expertise. Our comprehensive platform supports every aspect of AGM delivery, from shareholder communications to meeting management and post-meeting reporting.
Our experienced team combines deep regulatory knowledge with innovative technology to ensure your AGMs meet compliance requirements and enhance shareholder engagement. We provide end-to-end support, including constitutional reviews, platform selection guidance, and real-time technical support during meetings.
For more insights on AGM best practice and regulatory compliance, connect with Sue Julian on LinkedIn or contact our team.
.png?width=220&height=38&name=Automic%20Group%20Logo_Colour%20Tomic%20White%20Tagline%20TM%20(1).png){kind=small}
