What should happen at charity AGM?

What should happen at a charity AGM?

The aim of the AGM is to provide the charity trustees and/or officers the opportunity to explain their management of the charity to the members. It also provides the members of the charity with an opportunity to ask questions before voting on business items on the agenda. Not all charities are required to hold an AGM.

What should be discussed in an AGM?

Matters of the AGM

  • Adoption of the income statement and the balance sheet.
  • Disposal of the year’s profit and distribution of dividend.
  • Payment of dividend.
  • Resolution concerning discharge of the members of the Board and the CEO from responsibility.
  • Number of the members of the Board.
  • Number of the Auditors.

What happens at an AGM meeting?

An annual general meeting (AGM) is the yearly gathering of a company’s interested shareholders. At an annual general meeting (AGM), directors of the company present the company’s financial performance and shareholders vote on the issues at hand.

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What are the four functions of the AGM?

The functions of business undertaken at a typical annual general meeting are listed as follows:

  • The declaration of dividend among shareholders.
  • Consideration of annual accounts.
  • Discussion of the director’s report and the auditor’s report.
  • Appointment and fixing of the remuneration of the statutory auditors.

How many trustees should a charity have?

Know your governing document Page 12 How many trustees should a charity have? Law is silent – so at least one. Best practice would require – a minimum of three. Best practice would require – a charity’s governing document to set out the number of charity trustees required and state a quorum for charity meetings.

How long should charity minutes be kept?

be kept for at least six years after expiry . As with your financial records , it is important that the documentation relevant to any contract is also retained , for example minutes of meetings documenting the decision to enter into a contract and any specialist advice obtained .

When should AGM be held?

Companies Required to Hold an AGM

A company must hold its AGM within a period of six months from the end of the financial year. However, in the case of a first annual general meeting, the company can hold the AGM in less than nine months from the end of the first financial year.

When should an AGM be held?

Annual general meetings (AGMs)

An association’s committee must ensure that an annual general meeting is held within 6 months after the association’s financial year end. An association’s constitution must specify its financial year.

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What decisions are made at AGM?

The General Meeting is the Company’s highest decision-making body, at which the shareholders exercise their voting rights. At the General Meeting decisions are taken regarding matters such as the annual accounts, dividend, election of the Board of Directors and auditor and remuneration to Board members and auditor.

Who attends an AGM meeting?

Attending this meeting are the members or the shareholders of the organization, depending on the type of organization. At such meeting, the Company Secretary of the Company plays a crucial role in convening, conduct, and to attend the meeting.

How often do you need to hold an AGM?

Public and/or traded companies are required to hold the AGM within six months of the end of the Company’s financial year. This is a statutory requirement under the Companies Act 2006 (CA 2006). Private limited companies are not legally required to hold an AGM, unless the Articles of Association say otherwise.

How Should minutes be taken and actioned for an AGM of a public company?

Minutes of meetings should include:

  1. the corporation’s name and ICN.
  2. the type of meeting—directors’, general or AGM.
  3. a copy of the notice for the meeting.
  4. the agenda that was issued before the meeting.
  5. the date, time and place of the meeting.
  6. the name of the chairperson.
  7. the names of all people at the meeting.

Who must hold an AGM?

(1) A public company must hold an annual general meeting ( AGM ) within 18 months after its registration. (2) A public company must hold an AGM at least once in each calendar year and within 5 months after the end of its financial year.

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