COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 125 Annual general meeting.

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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 125

Annual general meeting.

125.(1) Subject to sub-section (2), every company shall in each year hold a
general meeting as its annual general meeting in addition to any other
meetings in that year, and shall specify the meeting as such in the notices
calling it; and not more than fifteen months shall elapse between the date of
one annual general meeting of a company and that of the next.

(2) 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.

(3) If default is made in holding a meeting of the company in accordance with
sub-section (1), the Ministry may, on the application of any member of
the company, call, or direct the calling of, a general meeting of the company
and give such ancillary or consequential directions as the Ministry thinks
expedient, including directions modifying or supplementing, in relation to the
calling, holding and conducting of the meeting, the operation of the company's
articles; and it is hereby declared that the directions that may be given
under this sub-section include a direction that one member of the company
present in person or by proxy shall be deemed to constitute a meeting.

(4) A general meeting held in pursuance of sub-section (3) shall, subject to
any directions of the Ministry, be deemed to be an annual general meeting of
the company; but, where a meeting so held is not held in the year in which the
default in holding the company's annual general meeting occurred, the meeting
so held shall not be treated as the annual general meeting for the year in
which it is held unless at that meeting the company resolves that it shall be
so treated.

(5) Where a company resolves that a meeting shall be so treated, a copy of the
resolution shall, within fifteen days after the passing thereof, be forwarded
to the registrar of companies and recorded by him.

(6) If default is made in holding a meeting of the company in accordance with
sub-section (1), or in complying with any directions of the Ministry under
sub-section (3), the company and every officer of the company who is in
default shall be liable to a fine not exceeding fifty pounds, and if default
is made in complying with sub-section (5), the company and every officer of
the company who is in default shall be liable to a default fine of two pounds.

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Northern Irish Legislation

COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 125