- This topic has 5 replies, 3 voices, and was last updated 9 months ago by MikeLittle.
- October 17, 2019 at 12:13 pm #549872ashraf39
recently i have taken a practise test on opentuition.
the question states ‘a public company incorporated on 1st may 2010 could hold its second annual general meeting when?
1. 31 december 2012
2. 31 october 2011
3. 30 april 2012
4. 31 january 2013
the answer is 1, but how?
plz HELPOctober 18, 2019 at 7:48 pm #550124MikeLittleKeymaster
18 months gets us to 31 October, 2011
15 months takes us to 31 January, 2013
But there has to be an AGM every calendar year and there isn’t one in 2012
So the latest date for the second AGM has to be 31 December, 2012
OK?October 21, 2019 at 11:32 am #550348ashraf39
Firstly, i thank you for replying to my post.
Secondly, doesnt 15 months take you to 31st July 2011? from the date of incorporation (1st may 2010)
please can you explain this further if possible.
it will be very beneficial for meOctober 21, 2019 at 8:22 pm #550393MikeLittleKeymaster
1st AGM must be within 18 months (strictly, it’s 6 months after the first accounting year end, but I always say that that’s 18 months!)
Subsequent AGMs must be held within 15 months of the previous AGM
Does that do it for you?March 2, 2020 at 6:53 pm #563781irshan
if AGM to be held every calendar year then 15 months theory is will never be applicable , the requirement of having annual AGM will suffice.
please clarify the need or use of 15 months theory.March 2, 2020 at 9:34 pm #563791MikeLittleKeymaster
If incorporated on 1 August, 2020, first AGM within 18 months would be 31 January, 2022
2nd AGM can be as late as 15 months after that so that takes us to 30 April, 2023
3rd could be as late as 15 months after that so that takes us to 31 July, 2024
Is that any clearer?
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