Annual general meeting

Annual general meeting

An annual general meeting (commonly abbreviated as AGM, also known as the annual meeting) is a meeting that official bodies, and associations involving the public (including companies with shareholders), are often required by law (or the constitution, charter etc. governing the body) to hold.

An AGM is generally held every year to inform their members of previous and future activities. In organizations run by volunteers or a paid committee, the AGM is generally the forum for the election of officers or directors for the organization.

It is an opportunity for the shareholders and partners to receive copies of the company's accounts as well as reviewing fiscal information for the past year and asking any questions regarding the decisions the business will take in the future.

In Great Britain it became optional with effect from 1 October 2007 for any private company to hold an AGM, unless its articles of association specifically require it to do so. [cite news|url=http://www.berr.gov.uk/files/file42262.pdf|title=Companies Act 2006: A summary of what it means for Private Companies|publisher=Department for Business, Enterprise and Regulatory Reform|accessdate=2007-02-28]

References

See also

*Extraordinary General Meeting
*Company law

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