{"id":2949,"date":"2016-06-22T08:11:41","date_gmt":"2016-06-22T00:11:41","guid":{"rendered":"http:\/\/www.biztreemgmt.com\/wordpress\/?p=2949"},"modified":"2020-05-06T16:04:43","modified_gmt":"2020-05-06T08:04:43","slug":"what-is-annual-general-meeting-agm","status":"publish","type":"post","link":"http:\/\/www.biztreemgmt.com\/wordpress\/what-is-annual-general-meeting-agm\/","title":{"rendered":"What is Annual General Meeting (AGM)"},"content":{"rendered":"

Received summon about late filing for section 175, 201 and 195 ??<\/p>\n

Section 175 refer to  Annual General Meeting  <\/strong>:<\/span><\/p>\n

All company must held AGM within 18 months from the date of  incorporation OR within 15 months from the last AGM date .<\/p>\n

Section 201  refer to Presentation of Report<\/strong> <\/span><\/p>\n

Audited report or compliance report  laid on AGM must not be more than 6 months from AGM due date.<\/span><\/p>\n

Section 197 \u2013 Filing Annual Return (AR)<\/strong><\/span><\/p>\n

AR filing must be lodge with ACRA within 1 month from the AGM date<\/p>\n

What is AGM ?<\/strong><\/p>\n

Annual General Meeting (AGM) is statutory requirement applied to all Pte Ltd company. It requested to held annually<\/p>\n

What is Annual Return Filing (AR)?<\/strong><\/p>\n

Annual Return Filing (AR) refer to transaction we filed Company’s report to ACRA. We only allowed to file AR after held of AGM<\/p>\n

Why must have AGM ?<\/strong>
\nAGM is meeting where shareholder given chance to exceise their right as shareholder .<\/p>\n

This is time to judge how well their investment in return,  to vote company’s transaction and company vision for next year<\/p>\n

When must held AGM ?<\/strong><\/p>\n

Illustration :<\/strong><\/p>\n

Date of Incorporation 2 April 2016<\/p>\n

Accounting Year end : 31 March 2017<\/p>\n

Reporting Time<\/strong><\/p>\n

Statutory Due Date :S175<\/strong><\/span><\/p>\n

Every company must held Annual General Meeting (AGM) to approve financial statement within 18 months from the date of incorporation or within 15 months from the previous AGM.<\/p>\n

Due date will be :<\/strong>2 September 2018<\/p>\n

Statutory Due date : S201<\/strong><\/span><\/p>\n

Account laid on AGM must not be more than 6 months  AGM due date.<\/span><\/p>\n

Due date will be :<\/strong> 30 September 2017<\/strong><\/p>\n

Statutory Due Date : S197<\/strong><\/span><\/p>\n

Account must be lodge in within 1 month from the AGM date<\/span> <\/span><\/p>\n

Due date will be :<\/strong> 31 October 2017<\/strong><\/p>\n

Procedure to held AGM<\/strong><\/span><\/p>\n

A>Physical Meeting of AGM<\/strong><\/p>\n

Physical AGM must be held according to Companies Act.<\/p>\n

Proper notice must given to all shareholder . Please refer to the company’s constitution.<\/p>\n

A copy of signed report and notice of AGM must mail out to all shareholder registered address.<\/p>\n

Is upto shareholder decision whether  to attend AGM<\/p>\n

B>Paper Meeting of AGM<\/strong><\/p>\n

Paper meeting means all director and shareholder sign on AGM minutes without having physical meeting .<\/p>\n

Before we proceed to have paper meeting ,resolution to dispense off hold of AGM must be signed and lodge in with ACRA<\/p>\n

Upon received confirmation from ACRA only then we can have paper meeting.<\/p>\n

FAQ<\/strong><\/p>\n

a)Can we apply for change in accounting year end ?<\/strong><\/p>\n

Yes<\/p>\n

b)What if we late for filing of AR ?<\/strong><\/p>\n

Penalties will be imposed as follow, please click here for more detail<\/p>\n

\"Capture\"<\/a><\/p>\n

Source information from ACRA website<\/em><\/p>\n

\"Regime\"<\/a>
\nc) Must all shareholder sign AGM ?<\/strong><\/p>\n

Please refer to the company’s constitution<\/p>\n

d) Can shareholder appoint proxy to attend AGM ?<\/strong><\/p>\n

Yes<\/p>\n

e) Can we apply extension of time to hold AGM ?<\/strong><\/p>\n

Yes, please click here<\/a> for extension of time.<\/p>\n

f) When must we lodge in with ACRA after held of AGM ?<\/strong><\/p>\n

within 30 days<\/p>\n

g) what to do with Compliance Rating ?<\/strong><\/p>\n

 <\/strong>\"rating\"<\/a><\/strong><\/p>\n

ACRA will publish the above rating so then public,  company’s shareholder , creditor  will get up to date information .And this is the key for investor to check Company’s  compliance record.
\nPublic always confuse with Tax Return Filing and Annual Return Filing .<\/p>\n