- 1 Marks
Question
Which of the following is NOT required to hold an Annual General Meeting?
A. A one-member company
B. A micro company
C. A private company
D. A municipal company
E. An unlimited liability company
Answer
Answer:
A. A one-member company
Explanation:
A one-member company is exempt from the legal requirement of holding an Annual General Meeting (AGM) since there is only one member involved. The purpose of AGMs is to provide a forum for multiple shareholders to discuss and decide on company matters, which is redundant for a single-member entity.
- Tags: AGM, Corporate Law, Exemption Rules
- Level: Level 1
- Topic: Contract Law
- Series: MAY 2024
- Uploader: Dotse