Variable Capital Companies Act 2018 · 2020 Revised Edition · Part 6 · Management and Administration
77. Annual general meeting
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Subject to this section and section 78, a VCC must hold, in addition to any other meeting, a general meeting of the VCC to be called the “annual general meeting” after the end of each financial year within 6 months.
VCC
“VCC” or “variable capital company” means a body corporate incorporated as such under this Act;
The Registrar may extend the period mentioned in subsection (1) —
Registrar
“Registrar” means the Registrar of VCCs appointed under this Act, and includes any Deputy or Assistant Registrar of VCCs;
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.
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.
Where a VCC fails to comply with subsection (1) —
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.
The Minister may, by order in the Gazette, specify such other period in substitution of the period mentioned in subsection (1).