Declare the meeting to be open. Annual meeting (formerly known as “annual general meeting”) This is a meeting of the members which the directors must call annually. This piece was updated on April 2, 2020, to include updates from Ontario and British Columbia. Usually the directors are elected annually at the general meeting, by the members of the corporation. The Act provides corporations must have an AGM as it provides a formal opportunity for a review of the corporation’s financial year and to address business such as the election of board members, appointment of the auditor, etc. attend the general meeting — Where to hold the meeting in the event of the planned venue being unavailable or otherwise inaccessible. The directors may call a special meeting of the members at any time. An Annual General Meeting, commonly referred to as an AGM, is a formal meeting which is held once a year. ). Ensuring the meeting is quorate. Special meeting. (section 293) 5.2 Election of Directors and Officers. In recent weeks, many of our clients have been asking how they can hold their directors’ and members’ meetings, particularly their annual general members’ meetings (AGMs), given the restrictions on public gatherings and requirements for social distancing during the COVID-19 pandemic.The Ontario and Federal governments have responded to these concerns to assist not-for … Annual General Meeting. Section 154 of the Ontario Business Corporations Act 1 requires the directors of a corporation to "place before each annual meeting," within six months of the corporation's year-end, "the financial statements required to be filed under the Securities Act." A corporation must call an annual meeting of members every year. The quorum for a general meeting is typically set out in a public company’s articles (or is determined to be two members present in person or by proxy by section Annual meetings. Open the AGM with a formal greeting. As per Companies Act, an annual general meeting must be held by every company once a year without fail. With the Ontario government issuing a new emergency order prohibiting gatherings of more than five (5) people and the federal government recently launching a $30-million national ad campaign compelling Canadians to #StayHome, many not-for-profit and charitable organizations (“NFPs and Charities”) are reconsidering when and how to hold their upcoming Annual General Meetings … During this greeting, make sure that the meeting agenda and annual reports are being distributed to the attendees. The NFP Act and the Canada Not-for-profit Corporations Regulations (NFP Regulations) set out the time frames within which a corporation must call an annual meeting. For more information, refer to section 52 of ONCA. Directors in office at the time are retired and, if eligible, may seek re-election to resume office for another year. Canadian public companies typically look to their federal or provincial governing statutes for timeline requirements regarding their annual general meeting (AGM). As you do so, state the organization's full name and the current AGM number (the twenty-second Annual General Meeting, the thirty-nine Annual General Meeting, etc. An annual meeting of the members of the corporation must be held not later than eighteen months after incorporation and subsequently not more than fifteen months after the holding of the last annual meeting. The following are some of the common types of meetings referred to in ONCA. 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