What happens if you're not ready to meet statutory
requirements on time?
"If our company accounts will not be finalised and signed
off in time to meet the statutory requirements of the Companies Act
2006 (the Act) to lay accounts before members in general meeting,
what is the position?"
This is a question we are faced with from time to time and more
regularly than you would expect.
Whilst directors and officers of a company have a good
understanding of their fiduciary duties and responsibilities they
are often unaware or only have a vague awareness of the
consequences of breaches of the Act by their companies and their
officers.
What are the Requirements?
Under section 336 every public company must hold a general
meeting as its annual general meeting (AGM) in each period of six
months beginning with the day following its accounting reference
date regardless of any other meetings held during that period.
