Directors who fail to follow the AGM requirements can be prosecuted in court, and may also face disqualification or debarment from being a director. In addition, ACRA can impose composition fines on companies that do not hold the required AGMs.
Separately, a late lodgment penalty will be imposed for each annual return that is lodged late.
Learn more about the offences and penalties for failing to hold an Annual General Meeting (AGM).
