201C. Directors need not lay financial statements before company if resolution under section 175A in force

Question 1

201C. Directors need not lay financial statements before company if resolution under section 175A in force

[201C. When directors need not lay financial statements before company]

Answer 1

General overview
[201C.01] Act No 15 of 2017 repealed the previous s 201C and replaced it with a new s 201C. There is no change in substance to the section except for housekeeping matters. Briefly, the directors of a private company that need not hold an AGM by virtue of s 175A do not have to lay the financial statements before the AGM, and the conditions under s 207(1) shall be satisfied by sending to the person(s) entitled to receive notice of the general meetings of the company the documents required to be sent thereunder.