Question
Can the 370 Form and the resignation letter be e-signed?
Answer
Form 370 is an ASIC form that can be used by an officeholder (DIR or SEC) to notify ASIC of their retirement or resignation from the company. The form can be lodged either by the officeholder or the ASIC agent.
The officeholder can lodge this form directly with ASIC (even without notifying the ASIC agent). However, the officeholder will need to lodge this manually (paper lodgement). The officeholder is not required to lodge this form to notify ASIC they are resigning because it's the ASIC agent's responsibility to lodge the Form 484 to notify ASIC of the resignation.
However, if the officeholder decided to lodge the Form 370 with ASIC, they are required to include a copy of the resignation letter.
The letter you send to the company should include:
- the name of the company
- the name of the officeholder who is resigning or retiring
- the role or roles from which the officeholder is resigning or retiring
- the date from which the resignation or retirement takes effect
- the officeholder’s signature
If the Form 370 will be lodged manually, ASIC will require a wet signature for both the resignation letter and the form. The same rule applies when they are lodging a Form 492 via paper. The e-signing option is only available if the lodgement of the form is done electronically.