FRC issues Q&A on company filing, AGMS and other general meetings during COVID-19

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17 Apr, 2020

The Financial Reporting Council (FRC) has issued a set of answers to commonly asked questions on the challenges companies may experience in complying with statutory obligations to hold meetings and to file documentation on the Companies Register during the COVID-19 crisis.

The Q&A is designed to provide companies with additional information to help them in planning activities over the coming months, focusing on the holding of AGMs and other general meetings and in the filing of company accounts.  In particular:

  • in respect of AGMs and other general meetings, the FRC envisages companies holding 'closed' meetings with a minimum number of people by telephone or similar. Companies may also be granted the ability to over-ride their Articles for a short period and shareholders will have the ability to vote by proxy; and
  • in respect of filing deadlines, the FRC is monitoring companies' abilities to meet deadlines and will take action if further aid appears necessary.

Please click here to access the Q&A on the FRC website.

On 14 May 2020, the government announced that legislation will be introduced to ensure those companies are required by law to hold AGMs will be able to do so safely to address the spread of coronavirus. A further Q&A has been jointly produced by BEIS and the FRC accordingly.

On 20 May 2020, the government introduced the Corporate Insolvency and Governance Bill in Parliament.  The overarching objective of the Bill is to provide businesses with the flexibility and breathing space they need to continue trading in a COVID-19 environment. The measures are designed to help UK companies and other similar entities by easing the burden on businesses and helping them avoid insolvency during this period of economic uncertainty.


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