• Home
  • Finance
    • Financial Management
    • Strategic Management
    • Investment Analysis and Portfolio Management
    • Project Management
    • Islamic Banking & Finance
    • Auditing
  • Marketing
    • Principle of Marketing
    • Marketing Management
    • International Marketing
    • Advertising & Promotion
    • Commercial Challenges
  • HRM
    • Human Resource Management
    • Principles of Management
    • Training & Development
    • Employee Performance Management
  • Others
    • Introduction to Business
    • Business Communication
    • Banking & Finance
    • Entrepreneurship
    • Economics
  • Personal Skills
  • Tips & Tricks
  • About Us
    • Contact US

Business Study Notes

B.Com, M.Com. BBA & MBA Exam Study Online

  • Home
  • Finance
    • Financial Management
    • Strategic Management
    • Investment Analysis and Portfolio Management
    • Project Management
    • Islamic Banking & Finance
    • Auditing
  • Marketing
    • Principle of Marketing
    • Marketing Management
    • International Marketing
    • Advertising & Promotion
    • Commercial Challenges
  • HRM
    • Human Resource Management
    • Principles of Management
    • Training & Development
    • Employee Performance Management
  • Others
    • Introduction to Business
    • Business Communication
    • Banking & Finance
    • Entrepreneurship
    • Economics
  • Personal Skills
  • Tips & Tricks
  • About Us
    • Contact US
Home » Company Meetings – Types

Company Meetings – Types

By Richard Daniels Reading Time: 3 mins
Updated March 19, 2021

Meeting

The meeting which is held by a company is known as a company meeting. According to the Companies Ordinance 1984, there are three company meetings types. These types of meetings are the same all over the world in any country. Companies probably asked for business meetings as per the requirements of business.

  1. Statutory Meeting.
  2. Annual General Meeting
  3. Extraordinary General Meeting.

Types of Company Meeting

Statutory Meeting

The first and only meeting which is held in a company between the members is known as a Statuary company meeting. The statutory meeting once in a lifetime held in a company, which is only expressed by the company directors.

By When and Who Held 

The statutory meeting is detained by:

  • In a public company where shares are limited.
  • In a public company where guarantee are limited and,
  • Conversion of a private company into a public company.

The statutory meeting in case of a company limited by shares shall be held. Within time period of 3 and 6 months from the date of company formation and to a start of business.

How is the Meeting expressed?

It is provided in Section 157 (2) of the Companies Ordinance that the company directors shall send a written notice on account of statutory meeting. To all the shareholders not less than 21 days earlier than the fixed date of the meeting. In any case the statutory report shall not be sent by the company directors. Even though it is duly certified by at least three numbers of directors, including one of the members shall be chief executive of the company.

Business of the Meeting

The Statutory Report may be considered as business of the meeting. Since, it contains a complete detail of accounts of the state of company dealings since its registration and the business sketch.

Privileges of the Members

The members of the company present at the meeting shall be at liberty to discuss any matter relating to the formation of the company or arising out of the statutory report.

Default in Holding Statutory Meeting

A company may be wound up if default is made in delivering the statutory report to the registrar or in holding the statutory meeting.

Annual General Meeting

According to the Companies Ordinance 1984, every company without exception, shall hold a general meeting of its members every year. This annual general meeting is to be conveyed and held by the directors of the company. The members have no authority to convey the annual general meeting of the company.

Notice of Meeting

The notice of the Annual General Meeting shall be sent to shareholders at least 21 days before the date fixed for the meeting.

Place of Meeting

In a listed company annual general meeting, shall be held in the town in which the registered office of the company is situated.

Business to Be Conducted

The annual general meeting is mainly held for doing the ordinary business. However, if the articles permit any special business may also be conducted at the annual general meeting by giving its notice along with the notice of annual general meeting to the members. The ordinary business of the meeting is as follow:

  1. Consideration and adoption of the audited annual financial reports.
  2. Declaration of the dividends.
  3. The election of directors.
  4. Appointments of directors.
Winding-Up

According to Companies Ordinance Section 305 (b) a company may be wound up by the court if it does not hold two consecutive annual general meetings.

Extraordinary General Meeting

Extra-ordinary General Meeting refers to those kinds of meeting which is different from statutory meeting as well as annual general meeting.

How the Meeting is Called

The extraordinary general meeting may be called in the following ways:-

  • The directors may at any time call an extraordinary general meeting to consider any matter which they think it necessary.
  • The directors may call the meeting on the requisition of the shareholders representing not less than one tenth of the voting powers.
Purpose

The extraordinary general meeting is called only:

  • When some special business is to be conducted.
  • The business as per articles cannot be transacted at the annual general meeting.
  • The business is of such an important nature that it cannot be deferred till the annual general meeting.
Author at Business Study Notes
Richard DanielsAuthor at Business Study Notes

Hello everyone! This is Richard Daniels, a full-time passionate researcher & blogger. He holds a Ph.D. degree in Economics. He loves to write about economics, e-commerce, and business-related topics for students to assist them in their studies. That's the sole purpose of Business Study Notes.
Love my efforts? Don't forget to share this blog.

Related Posts:

  • Advantages and Disadvantages of Private Limited Company
    Advantages and Disadvantages of Private Limited Company
  • Formation of Public Limited Company
    Formation of Public Limited Company
  • What is the Process of Motivation? Explain in detail
    What is the Process of Motivation? Explain in detail
  • Winding Up of a Company
    Winding Up of a Company
  • The Economic Security of Online Companies
    The Economic Security of Online Companies

Filed Under: Introduction to Business, Others Tagged With: company meeting types

Related Posts

System-Views-of-Management-image

System Views of Management

System Views System views of management associates with the Management division of the organization and it assumes that all of the organizations are … [Read More...]

Leadership Theories

Situational Leadership Theories

Situational Leadership Theories Situational model of leadership is a factor that emphasizes the behavior of the leaders regarding different situations. … [Read More...]

Behavioral Leadership Model

Behavioral Leadership Model

Leadership  Leadership is the most critical and complex responsibility across any organization. It is because the leadership requires to be realistic, … [Read More...]

career development process in hrm

Career Development Process

Career Development Process Today's career development process has become a threat for students, especially a question that may stun many students who have … [Read More...]

Strategic leadership

Strategic Leadership Model

Strategic Leadership Model The strategic leadership model is basically the study of the leadership style. It describes the ways of modernizing an … [Read More...]

Types of Managerial Decision Making

Types of Managerial Decision Making

Managerial Decision Making Decision Making is an art of selection of one feasible alternative decision from many. Therefore types of managerial decision … [Read More...]

Quantitative-management-approach

Quantitative Management Approach

Quantitative Management Approach The quantitative management approach is used to enhance decision making power by using quantitative tools. As well as … [Read More...]

Effective-business-messages-image

Effective Business Messages

Effective Business Messages The process through which business messages are effectively prepared that have the potential to create desired results from … [Read More...]

Search the Site

ADVERTISEMENT

Business Study Notes

Business Study Notes is all about business studies or business education. Visit us to find here free business notes of all the subjects of B.com, M.com, BBA & MBA online.

Disclaimer

All the images and videos present on the Business Study Notes are not owned by us, if you found anything under copyrights, please Contact Us, we will remove it ASAP.

Categories

© Copyright 2023 Business Study Notes. All rights reserved. Privacy Policy, Sitemap.  
DMCA
PROTECTED