RE: TW trying to get it suspended again25 Mar 2021 19:03
SYME self suspended. THE FCA gave them a clean bill of health.The decision to change accounting date was the advice of the regulators and their multiple award winning Accountants CROWE.
Regards the AMG, currently, the temporary relaxations of certain requirements in the Companies Act 2006 (CA 2006) relating to company meetings, whether AGMs or general meetings, are still in place. These were initially introduced with effect from June 26, 2020 by the Corporate Insolvency and Governance Act 2020 (CIGA) and applied to company meetings held up until September 30, 2020. The relaxations were further extended for company meetings held up until December 30, 20201, and then for company meetings held up until March 30, 2021.
As a result, while the position for companies planning their AGM before the end of March 2021 is clear, it is very uncertain for those companies planning on holding an AGM after March 30, 2021. Primary legislation would be required to extend relaxations similar to those in CIGA beyond that date and it is not yet clear whether such legislation is planned or could be passed in sufficient time to help those companies.
https://www.gov.uk/government/publications/corporate-insolvency-and-governance-bill-2020-factsheets/annual-general-meetings-and-other-general-meetings
What are we going to do?
We are making it easier for companies and other bodies like building societies and charities to comply with legal requirements on holding Annual General Meetings (AGMs) and other meetings while keeping their shareholders and members safe.
How are we going to do it?
We are relaxing some of the requirements which would make it difficult, if not impossible, to hold these sorts of meetings in accordance with the Government’s social distancing legislation and guidelines.
What does this mean in practice?
Most notably it means that, for a temporary period, companies and other bodies will be able to suspend shareholders’ and members’ ability to attend meetings in person and that they will be able to convene meetings in a flexible way using a range of technologies. If, for example, your organisation has a deadline to hold an AGM before the end of July, it can postpone that meeting to any later date before the end of September and/or it can arrange to hold a meeting with a restricted number of participants communicating between different locations.
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