Companies Act 2014 section 1262

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

Section 1262 prevents unlimited companies with two or more members from opting out of the requirement to hold an annual general meeting.

Under the general rules in section 175(3) and (4), certain companies can agree to dispense with holding an annual general meeting (AGM).
Section 1262 removes this option for unlimited companies that have more than one member.
An unlimited company with two or more members must therefore hold an AGM each year.
A single-member unlimited company is not affected by this restriction and may still avail of the dispensation provisions.

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