Building Societies Act, 1976

Annual general meeting.

58.—(1) Subject to subsections (2) and (3), every society shall in the first four months of each financial year hold a meeting in the State as its annual general meeting in addition to any other meetings in that year, and shall describe the meeting as the annual general meeting in the notices calling it.

(2) A society need not hold an annual general meeting in the year in which it is incorporated.

(3) The Registrar may at his discretion, upon application being made to him in writing, fix a longer period than four months for the purposes of subsection (1) in relation to a society or a particular class or classes of society or all societies.

(4) Where default is made in complying with subsection (1), the Registrar may call or direct the calling of a general meeting and may give such ancillary or consequential directions as he thinks expedient, including directions modifying or supplementing the operation of the rules of the society in relation to the calling, holding and conduct of the meeting.