Companies Act 2014 section 186

The business of the annual general meeting

Section 186 sets out the required items of business that must be dealt with at a company's annual general meeting.

• The AGM must include consideration of the statutory financial statements, the directors' report, and (unless the company qualifies for and has taken the audit exemption) the statutory auditors' report on those statements.
• Members must be given the opportunity to review the company's affairs, and unless the constitution says otherwise, a dividend may be declared up to the amount recommended by the directors.
• Unless the company is audit-exempt, the AGM covers the appointment or reappointment of statutory auditors, and the directors may be authorised to approve the auditors' remuneration.
• Where the company's constitution provides for it, the AGM may also deal with the election and re-election of directors and the setting of directors' remuneration.

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