The following query was sent by BGL to ASIC to clarify the signing requirements of ASIC forms and documents.
Query to ASIC
BGL believe it is documented that clients only require a 'wet ink' signature for the form 362. An original copy of the signed 362 must be kept for 7 years. There is no statement about storing the original paper document.
Other forms only require approval from company officers and it is not necessary for a 'wet ink' signature.
The following response was received from ASIC.
Response from ASIC
Your understanding is correct.
Please refer to the ASIC Electronic Lodgement Protocol (ELP), which can be accessed from here: http://asic.gov.au/online-services/register-for-online-access/electronic-lodgement-protocol/
On page 9 of the ELP, it specifically states that an agent needs to keep a signed copy of a 362 for a period of 7 years. There is no mention of a requirement for any of the other EDGE forms to be kept.
Page 9 of the ASIC Electronic Lodgement protocol (ELP)
Special conditions that apply to Agents where a Form 362, being a Document, has been lodged electronically with ASIC under the ELP the Document signed in accordance with section 351 of the Act must be held by You for a period of not less than 7 years from the date of signing. The person holding the signed copy of the Document must make it available to ASIC if requested by ASIC.
- Form 362 requires a 'wet ink' signature and an original copy must be kept for 7 years.
- All other forms that are electronically lodged via CAS 360 do not require a 'wet ink' signature.
Note: Paper Forms that are manually lodged with ASIC may require a 'wet ink' signature even if it is initially prepared in CAS 360. We recommend reviewing ASIC's website for specific requirements.