A EX LISTED Company Secretary writes...
We have been looking at Docusign as a platform for signing documents electronically and in principle it looks a good tool. However we have dilemma because the majority of our documents require a company seal and the law on virtual company seals is somewhat confusing.
On one hand the implication is that the use of electronic seals is a criminal offence under section 45(4) of the Companies Act 2006 (under s.45 it is an offence to use a seal that doesn’t have the name of the company engraved on the seal. An electronic seal cannot be ‘engraved’) whilst on the other hand the EU eIDAS Regulation (now UK eIDAS) states the use of electronic seals is possible.
Does anyone use electronic seals and if so what is their take on the law for electronic seals?