Companies Act 2014 section 1089

PLC, with 2 or more members, may not dispense with holding of a.g.m.

Section 1089 provides that a public limited company (PLC) with two or more members cannot opt out of holding an annual general meeting (AGM).

  • A PLC with more than one member must hold an AGM each year and cannot dispense with this requirement.
  • The provisions in Section 175(3) and (4) that allow companies to skip holding an AGM do not apply to a PLC with two or more members.
  • Only multi-member private companies limited by shares (LTDs) are permitted to dispense with holding an AGM.
  • All other company types, including PLCs, must hold an AGM where they have more than one member.

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