Singapore legislation
Section 77
Section 77
Annual general meeting
(1)
Subject to this section and section 78, a general meeting of every VCC called the “annual general meeting” must, in addition to any other meeting, be held after the end of each financial year within 6 months.
(2)
The Registrar may extend the period mentioned in subsection (1) —
upon an application by the VCC, if the Registrar thinks there are special reasons to do so; or
in respect of any prescribed class of VCCs.
(3)
Subject to notice being given to all persons entitled to receive notice of the meeting, a general meeting may be held at any time and the VCC may resolve that any meeting held or summoned to be held is the annual general meeting of the VCC.
(4)
If default is made in holding an annual general meeting —
the VCC and every officer of the VCC who is in default shall each be guilty of an offence and shall each be liable on conviction to a fine not exceeding $5,000, and also to a default penalty; and
the Court may on the application of any member order a general meeting to be called.
(5)
The Minister may, by order in the Gazette, specify such other period in substitution of the period mentioned in subsection (1).