Annual general meetings
190 Annual general meetings
In the case of a co‑operative registered under Part 2 Division 4, the first annual general meeting of the co‑operative must be held within 18 months after registration under this Act.
In the case of a co‑operative registered under Part 2 Division 5, the first annual general meeting of the co‑operative must be held within 18 months after the last annual general meeting held by that co‑operative before it was registered under this Act.
The second or any later annual general meeting of a co‑operative must be held within —
5 months after the close of the financial year of the co‑operative; or
a further time that may be allowed by the Registrar or is prescribed by the regulations.
An annual general meeting is to be held in addition to any other meetings held by a co‑operative in a year.
A co‑operative commits an offence if it does not hold an annual general meeting as required by this section.
Penalty for this subsection: a fine of $1 000.
Despite The Criminal Code section 23B(2), it is immaterial for the purposes of subsection (5) that any event occurred by accident.
[Section 190 amended: No. 7 of 2016 s. 52.]
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