Digital Signature - Legally Binding
The State Records Act and the Electronic Transactions Act place many obligations on companies, least of which includes to ensure all business records, regardless of form, are appropriately managed and in instances where a legal signature is required the authencity of the author can be verified.
Electronic Transactions Act - Legal Requirements
for a signature is met by means of an electronic signature if the signature:
Adequately identifies the signatory
Adequately indicates the signatory's approval of the information to which the signature relates; and (Intent)
Is as reliable as is appropriate given the circumstances
An electronic signature is sufficiently reliable if:
the means of creating the signature is linked to the person signing and no-one else, and
the means of creating the signature was under the control of the person signing and no-one else, and
any changes to the signature are detectable, and
any changes to the documents are detectable (data integrity )
How Digital Signature Solution Meets ETA ?
Identifying the Signatory – The solution creates a unique digital certificate to a user. When these signatories registered, additional information is added to their signature
Signature is linked to the signatory - Every signature is uniquely linked to the signatory and to the document by using signatory’s Private Key.
Creating the signature is under sole control of the signatory - In order to sign, the signatory has to provide credentials to sign.
Detecting Changes to the Document and to the Signatures - Signed documents are sealed with the signatory’s trusted PKI digital signatures key, and the system can detect any changes that were made to the content of the document after it was first signed.
The X509 PKI Digital Signatures technology meets these requirements. Secured Signing and CoSign products are issuing a signatory’s personal certificate ID to sign and sealed documents. Many originations in Australasia checked the legality of digital signature and the outcome was positive, and they implemented CoSign or Secured Signing.
Legislation in Australia and New Zealand:
Australian Capital Territory -ELECTRONIC TRANSACTIONS ACT 2001
Australia, New South Wales (NSW) - ELECTRONIC TRANSACTIONS ACT 2000
Australia, Northern Territory (NT) - ELECTRONIC TRANSACTIONS ACT 2000
Australia, QLD - ELECTRONIC TRANSACTIONS (QUEENSLAND) ACT 2001
Australia, VIC - ELECTRONIC TRANSACTIONS (VICTORIA) ACT 2000
Australia, SA - ELECTRONIC TRANSACTIONS ACT 2000
Australia, WA - ELECTRONIC TRANSACTIONS ACT 2003
Australia, Tasmania - ELECTRONIC TRANSACTIONS ACT 2000
New Zealand - ELECTRONIC TRANSACTIONS ACT 2002
Please Note: Nothing on this page constitutes Legal advice