Annual General Meeting is a meeting that is required to be held as per s340 of the Companies Act 2016.
Private company may or may not choose to hold its Annual General Meeting.
A private company that choose not hold its Annual General Meeting, must circulate its financial statement and reports to its members, within 6 months from its financial year end, before it is lodged to the Registrar.
As per s340(5) Companies Act 2016:- If a public company fails to convene an Annual General Meeting, the Court may on the application of any member, order a general meeting to be held.
As per s340(6) Companies Act 2016:- The Company and every officer who contravene s340(1), s340(2) or s340(3) commit an offence and shall, on conviction be liable to a fine not exceeding RM20,000.00
0 Comments