Section 115: Annual meeting of shareholders

115. Annual meeting of shareholders (1) Subject to subsection (2), the Board of directors shall call an annual meeting of shareholders to be held— (a) not more than once in each year; (b) not later than 6 months after the balance sheet date of the company; and (c) not later than 15 months after the previous annual meeting. (2) A company may not hold its first annual meeting in the calendar year of its incorporation but shall hold that meeting within 18 months of its incorporation. (3) The company shall hold the meeting on the date on which it is called to be held. (4) The business to be transacted at an annual meeting shall, unless already dealt with by the company, include— (a) the consideration and approval of the financial statements; (b) the receiving of any auditor’s report; (c) the consideration of the annual report; (d) the appointment of any directors whose appointment on an annual or rotational basis is required by the constitution of the company; and (e) the appointment of any auditor pursuant to section 200. (5) Where the financial statements are not approved at the annual meeting, they shall be presented at a further special meeting called by the Board.