The first lockdown in spring 2020 created an urgent need to quickly find a solution for shareholders' meetings and assemblies that could no longer be held in the form of a face-to-face meeting. Also for reasons of time, the Austrian legislator chose to provide a solution in the form of an authorization as part of the COVID-19 Corporate Law Act.
This ordinance issued by the Federal Minister of Justice, Federal Law Gazette II 140/2020, is to be presented, especially since it can be assumed that the possibilities for virtual meetings and other forms of decision-making offered therein will continue to be necessary.
It will also be discussed whether and which of these types of assemblies could be implemented as permanent legislation.