Shareholders' Resolution to Remove Need for an Annual General Meeting (AGM)

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What is it?

A Shareholders' Resolution to Remove Need for an Annual General Meeting (AGM) is a resolution to remove the requirement for an annual general meeting (AGM) of the shareholders.

In accordance with the Companies Ordinance (Cap 622), a company may dispense with the requirement to hold an annual general meeting of its members by passing a written resolution signed by all the shareholders of the company.

Why do you need it?

A company can choose not to hold an annual general meeting if everything that is required or intended to be done at the meeting is done by way of a resolution signed by all the members of the company who would be entitled to attend and vote at such a meeting. To reduce paperwork and save time, it can be useful to remove the requirement for an AGM. However, in order to do this, the company must first pass a resolution to remove the need for an AGM using a Shareholders' Resolution to Remove Need for an Annual General Meeting (AGM).

Key clauses to watch for:

When drafting a Shareholders' Resolution to Remove Need for an Annual General Meeting (AGM), it is important to focus on a number of key clauses, in particular:

  • Details of the company;
  • Shareholders passing the resolution; and
  • Date of passing this resolution.

Shareholders' Resolution to Remove Need for an Annual General Meeting (AGM) Document