Written question asked by Helen Hayes (Labour) on Wednesday, 10 March 2021, in the House of Commons. It was due for an answer on Monday, 15 March 2021 (named day). It was answered by Paul Scully (Conservative) on Monday, 15 March 2021 on behalf of the Department for Business, Energy and Industrial Strategy.

Companies: Meetings

Question: To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 5 February 2021 to Question 146962 on Companies: Meetings, whether a legislative framework is in place to allow company AGMs to be held (a) virtually or (b) on a hybrid virtual/physical model under the current covid-19 restrictions; and in the event that it is not possible to hold virtual or hybrid AGMs, what guidance he is making available to companies on the safety of physical AGMs during the covid-19 outbreak.

Answer: The Companies Act 2006 establishes the framework within which public and traded private companies are required to hold annual general meetings, including where electronic means are deployed. It is ultimately for companies to determine how to balance the requirements of that framework against those of the coronavirus restrictions that pertain to the date of the meeting concerned. The Department has been working with the Financial Reporting Council, the Chartered Governance Institute (ICSA), legal firms and others to facilitate discussions about how companies can strike the right balance. ICSA has recently published guidance to assist companies in this regard.

Secondary information

Type: Written question
Reference: 166498
Session: 2019-21
Related items: Companies: Meetings
Friday, 5 February 2021
Written questions
House of Commons
Subjects: Companies Disease control Internet Meetings Coronavirus
Link: View this Written question on www.parliament.uk