All companies intending to hold virtual annual general meetings (AGMs) are expected by the Companies Act 2019 (Act 992) to notify the Registrar-General first.
The notification must spell out the electronic system to be used and must be fair to all members, a statement issued by Registrar-General Jemima Mamaa Oware said.
This comes in the wake of the coronavirus pandemic, which has occasioned a presidential ban on social gatherings and public meetings.
Most meetings are being held virtual as ‘No Mask, No Entry’ orders have been issued by many companies.
Section 378(2) of Act 992 confers on the Registrar-General powers to give directives to companies in the case of emergencies.
The statement on Thursday, May 14 said as a result of the ban on social gathering, companies can hold AGMs electronically.
“The Registrar-General should be notified before such a virtual meeting is held,” it said.
As a result of the threat posed by the pandemic, the notification to the Registrar-General is to be sent electronically.
Aside notifying the Registrar-General, notice of the meeting is expected to be sent to every member electronically in accordance with provisions of each company’s constitution.
“The virtual AGM can be held using such modalities as are fair to all their stakeholders.”