Annual general meeting
Directors and officers of the company must also ensure that the company hold an annual general meeting.
Section 143 of the Act provides the requirements of a general meeting as follows:
(1) A general meeting of every company to be called the “annual general meeting” shall in addition to any other meeting to be held once in every calendar year and not more than fifteen months after the holding of the last preceding annual general meeting, but so long as a company holds its first annual general meeting within eighteen months of its incorporation, it need not hold it in the year of its incorporation or in the following year.
(2) Notwithstanding subsection (1) the Registrar on the application of the company, may if for any special reason he thinks fit so to do, extend the period of fifteen months or eighteen months referred to in that subsection, notwithstanding that such period is so extended beyond the calendar year.
(3) Subject to notice being given to all persons entitled to receive notice of the meeting a general meeting may be held at any time and the company may resolve that any meeting held or summoned to be held shall be at the annual general meeting of the company.
(4) If default is made in holding an annual general meeting:
(a) the company and every officer of the company who is in default shall be guilty of an offence against this Act;
Penalty: Five thousand ringgit.
Default penalty: One hundred ringgit; and
(b) the Court may on the application of any member order a general meeting to be called.
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