Copy of UK Government Proposes E-Signatures to Increase Competitiveness Post Brexit

The Law Commission has recently proposed a programme of reforms that would allow Britain to remain competitive globally in the increasingly likely event that Britain will leave the European Union. One area of focus has been the integration of electronic signatures in the signing of documents.

 The Commission has already given provisional approval the electric execution of documents. This allows for “simple business documents” to be approved through the use of electronic signatures, reducing the amount of paperwork and shortening the time spent getting documents approved and verified.

 As modern business becomes increasingly reliant on technology to facilitate and conduct day-to-day business, and rapid improvements in these technologies, ensuring some flexibility in legal interpretation may help to cultivate a more competitive business environment.

 However, it has already been established that e-signatures will not extend to “mortgages, discretionary agreements and more substantial documents”. Similarly, other legal documents such as wills will still require physical written signatures, as they require further additional paperwork when being submitted. 

 Regarding the transfer of pension schemes from the UK to New Zealand, we believe that due to the stringent documentation process from UK schemes, the documentation for UK transfers will unlikely be changed to e-signed documents.

If you have been thinking about transferring your UK pension to a New Zealand scheme and are unsure where to start, contact us. Ranfurly has a UK pension specialist who can assist you through the transfer process, prepare transfer forms, obtain the required UK and NZ advice and provide the solutions you need.