Companies Act 2014 section 175

Annual general meeting

Section 175 sets out the requirements for holding annual general meetings (AGMs), including timing obligations, the option to dispense with an AGM by unanimous written resolution, and the consequences of failing to hold one.

• A company must hold an AGM each year, with no more than 15 months between consecutive AGMs, though the first AGM may be held within 18 months of incorporation.
• All members entitled to vote may sign a unanimous written resolution in place of holding an AGM, provided they acknowledge the financial statements, resolve all necessary matters, and confirm no change to the statutory auditor.
• If a company defaults on holding its AGM, the Corporate Enforcement Authority may, on application by any member, call or direct the calling of a general meeting and give directions on how it is to be conducted.
• Failure to hold an AGM or to comply with the Authority's directions is a category 3 offence, while failure to file a required resolution with the Registrar is a category 4 offence.