Legal Positivism: Regulation As Sovereign Command

However, the time to carry the primary Annual General Meeting for an organization is relaxed to 18 months from the date of incorporation. The court docket can even order compulsory winding up of the corporate in accordance to part 433 of the Companies Act if the statutory assembly is not held throughout the prescribed time. The shareholders also get an opportunity to debate business concepts and methods and the long run prospects of the corporate.

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law and legal company

Officer And Director Liability

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Idioms For Legislation

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According to section 166 of the Companies Act, all firms should hold Annual General Meetings at stipulated time intervals. The discover for an Annual General Meeting should comprise all of the particulars of the meeting.

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The day of the Annual General Meeting must not be a public vacation. The assembly may be held both at the registered office of the company or any preselected venue throughout the space of jurisdiction of the place the place the registered office of the company is located. An Annual General Meeting, as the name suggests, is a common meeting, which is held on a yearly foundation.