TaxSavvySG

Skipping the AGM

Can a small private company skip the AGM?

The situation

Yes. A private company can dispense with AGMs by resolution of all members, or need not hold one if financial statements are sent to members within 5 months of year end.

The law

  • Sec 175A, Companies Act 1967: Private company may dispense with AGM by resolution, or need not hold one if financial statements are sent within 5 months

What it means for you

Members can still demand an AGM within the set time. Directors must still approve accounts and file the annual return. Keep the resolution on file. Directors still have to present the financial statements to members and keep the resolutions in the minute book. Choosing the 5-month route needs accounts ready early, so plan the close.

What to do

  1. Choose dispensation or the 5-month route.
  2. Send financial statements in time.
  3. Record the resolution.
  4. File the AR.

We can do this for youAGM and annual return filing: SGD 700

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