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미래전략 연구소2020-04-27T17:52:49+09:00

Hong Kong 2020 Hong Kong Annual General Meeting (AGM)

Date
2020-05-22 19:45
Under Companies Ordinance, a company must hold an AGM in respect of each financial year of the company.

A company is not required to hold an AGM in the following circumstances –

1) Under section 612(1), a company is not required to hold an AGM if everything that is required to be done at the meeting is done by a written resolution and copies of the documents required to be laid or produced at the meeting are provided to each member of the company on or before the circulation date of the written resolution.

2) Section 612(2)(a) provides that a single member company is not required to hold an AGM.

3) Section 613 allows a company to dispense with the holding of AGMs by a written resolution or a resolution at a general meeting passed by all members.

4) Section 611 exempts a dormant company from the requirement to hold AGMs.

 

A company must, in respect of each financial year, hold its AGM within the following period:

1) in the case of a company limited by guarantee or a private company that is not a subsidiary of a public company, 9 months after the end of its accounting reference period; and

2) in the case of any other company, 6 months after the end of its accounting reference period.

The accounting reference period is the period by reference to which the financial year is to be determined.

If the accounting reference period is the first accounting reference period of the company and is longer than 12 months, the company must hold its AGM within the following period –

1. in the case of a company limited by guarantee or a private company that is not a subsidiary of a public company –

- 9 months after the first anniversary of the company’s incorporation; or

- 3 months after the end of that accounting reference period, whichever is the later; and

2. in the case of any other company -

- 6 months after the first anniversary of the company’s incorporation; or

- 3 months after the end of that accounting reference period, whichever is the later.

(Sections 610(2) and (4))

 

In the case of an AGM, the notice period is at least 21 days. In any other case the notice period is at least 14 days for a limited company, and at least 7 days for an unlimited company (section 571(1)).

Source: Companies Registry