Does my company need to hold an annual general meeting ?
November 8, 2014
What is the difference in the role between the shareholders and the directors ?
November 8, 2014

For those companies to which s.111 of the 1931 Act applies (all public companies and all private companies that have not elected to dispense with the requirement to hold an AGM formed under the 1931 Act) then a general meeting shall be held at least once in every calandar year and not more than fifteen months after the holding of the last preceding general meeting. That said, as long as the company holds its first AGM within 18 months of its incorporation it need not hold it in the calendar year of its incorporation or in the following calendar year.

If such a meeting has not been held then every director or manager of the company who is knowingly a party to the default shall be liable to a fine (not exceeding £5000).

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