What are examples of General Meetings?
A general meeting is a formal gathering of the members or stakeholders of an organization, where key issues are discussed, decisions are made, and updates are provided. General meetings are commonly held in various types of organizations, including corporations, non-profits, and associations. They can serve different purposes depending on the organization’s structure and objectives.
Types of General Meetings
- Annual General Meeting (AGM):
- Purpose: Typically held once a year, the AGM is a key event where the organization reviews its performance over the past year, presents financial statements, elects or reelects board members, and discusses important matters such as strategic direction or major changes.
- Attendees: Shareholders or members of the organization.
- Key Activities: Presentation of the annual report, financial statements, election of directors, and approval of key resolutions.
- Minutes: Annual General Meeting Minutes are prepared by an Independent Minute Taker to report on the meeting proceedings.
- Extraordinary General Meeting (EGM):
- Purpose: Called outside the regular schedule of AGMs to address urgent or unexpected issues that require immediate attention. These might include major changes in the organization, significant financial decisions, or emergency resolutions.
- Attendees: Shareholders or members, similar to an AGM but focused on specific issues.
- Key Activities: Discussion and decision-making on specific urgent matters.
- Minutes: General Meeting Minutes are required to be prepared for EGMs that occur.
- Special General Meeting (SGM):
- Purpose: Similar to an EGM, an SGM is called to address particular issues or make decisions on specific topics that arise between regular AGMs.
- Attendees: Organization members or stakeholders.
- Key Activities: Decision-making on specific matters not covered in the AGM.
- Minutes: General Meeting Minutes are required to be developed for SGMs that take place.
