COVID-19: We answer your questions

Directors are facing many issues and are having to make some tough decisions in response to COVID-19. To assist, the AICD Policy Team have compiled responses to the questions that are top of mind for directors right now. Please click on the topics below to access the commonly asked questions in each category.

AGMs

The Treasurer has used his new COVID-19 emergency instrument-making power to make changes to the Corporations Act to enable companies to temporarily hold virtual AGMs amid the COVID-19 crisis – we look at the detail and answer your questions.

Listed companies: ASX response

ASX has announced a package of temporary relief to assist listed companies in response to COVID-19 market conditions. We examine the detail and answer your questions.

NFPs and charities: ACNC response and resources

NFPs and charities are facing extraordinary challenges across multiple fronts. We look at the relief that’s available and key issues the AICD believe could be further addressed by the Government at this time.

Continuous disclosure obligations

ASX has released updated guidance for listed companies on their continuous disclosure obligations, but the AICD thinks more can be done to confront the disclosure challenges presented by the COVID-19 pandemic. Read more here.

Electronic signatures and contract formation

The Treasurer has used his new COVID-19 emergency instrument-making power to allow company officers to sign documents electronically under the Corporations Act.

Financial reporting

As a result of the COVID-19 crisis, many organisations will find it challenging to meet their financial reporting obligations. Here we explore the key issues and answer your questions.

JobKeeper and workplace relations

The Government’s JobKeeper scheme has passed into law, providing eligible employers a wage subsidy and additional flexibility for leave arrangements to retain staff throughout the COVID-19 pandemic. Find answers to your questions here.

Work health and safety

In recognition of the WHS risks arising from the COVID-19 crisis, Safe Work Australia has released guidance to assist organisations navigate these issues and protect workers. View the questions directors are asking.

Temporary COVID-19 insolvency safe harbour 

The Federal Government has announced a six-month temporary relief period from personal liability for trading while insolvent throughout the COVID-19 crisis. Here we respond to your questions.

Commercial tenancies 

The Government has announced relief measures for commercial tenancies to assist tenants and landlords facing significant uncertainty and financial burden at this time. Here we answer your questions.

Executive remuneration

Decisions around executive remuneration are some of the most difficult and most scrutinised for boards, and this won’t get any easier with COVID-19. We look at key considerations for boards in the current climate.

Insurance implications

What policies do we have and how are they impacted by COVID-19; these are key questions boards should be asking at this time. We look at the implications for business insurance and answer your questions.

SME loan guarantee scheme

The Government’s SME Loan Guarantee Scheme will provide small and medium sized businesses and NFPs in need of working capital access to unsecured loans in certain circumstances. Find answers to your questions here.