The ability to hold an Annual General Meeting (AGM) and general meetings has been extended to 31st December 2024.
The ability to hold an AGM virtually initially arose as a practical support to businesses during the Pandemic and was contained within the Companies (Miscellaneous Provisions) (Covid-19) Act 2020. Whilst the announcement of the extension of the provision is very close to the expiry of the previous extension (i.e. 31.12.2023) it is a move which will be welcomed by many businesses.
The Minister stated that “this extension will provide consistency into 2024, when my department will be bringing forth permanent legislative provisions in relation to virtual and hybrid meetings”. Whilst this had been hoped for it is good to see the Minister declare the intention to enable virtual meetings as part of standard company law.
A positive update to end the year.
A very happy and peaceful Christmas to all.