Decision making

Here the intention is to modernise and simplify the ways in which companies take decisions. There are proposals to:

• simplify the rules on written resolutions to make it easier for private companies to take decisions
• remove the requirement for most private companies to hold Annual General Meetings (AGMs) unless the members want one.

Public companies will continue to be required to hold an AGM. However, it will be possible for them to decide unanimously to dispense with holding one. Where an AGM is held, the proposals are to hold this within six months of the financial year end for public companies and ten months for private companies.