Legal Requirements for Company AGM
Posted by: Duncan Fullerton on 18 November 2004
Hi,
Can I pick your collective brains please? I live in a block of flats which is run by a management company of which all flat owners (42 of us) are the shareholders. Four of us are the directors of that company. So far, so good.
We are assisted in all things related to the running of the estate by a paid managing agent. Since signing off our accounts in June this year, which I'm told have been have been appropriately filed at Companies House, I've been unable to get our agents to organise our AGM.
They now tell me it's not worth bothering with until the next set of accounts (year end is December) are ready sometime in Feb 2005. They also say that there is no legal requirement to hold an AGM.
Now I can't find anything conclusive on the web, but the bits I can find seem to indicate that we need to have an AGM every calendar year and no more than fifteen months can elapse between meetings. Our last was in July 2003!
So who is right? Any advice much appreciated.
Thanks,
Duncan (trying to avoid a stretch in Strangeways!)
Can I pick your collective brains please? I live in a block of flats which is run by a management company of which all flat owners (42 of us) are the shareholders. Four of us are the directors of that company. So far, so good.
We are assisted in all things related to the running of the estate by a paid managing agent. Since signing off our accounts in June this year, which I'm told have been have been appropriately filed at Companies House, I've been unable to get our agents to organise our AGM.
They now tell me it's not worth bothering with until the next set of accounts (year end is December) are ready sometime in Feb 2005. They also say that there is no legal requirement to hold an AGM.
Now I can't find anything conclusive on the web, but the bits I can find seem to indicate that we need to have an AGM every calendar year and no more than fifteen months can elapse between meetings. Our last was in July 2003!
So who is right? Any advice much appreciated.
Thanks,
Duncan (trying to avoid a stretch in Strangeways!)