After registration, a co-operative has to convene an annual general meeting (AGM) within 18 months of registration.
At the first AGM of your co-operative you must:
- Appoint an auditor or independent reviewer
- Elect the Directors
- Elect the supervisory committee, if required by the constitution
- Decide on the future business of the Co-operative
- Take minutes
After that, all further Annual General Meetings must be held within 6 months after the end of a Co-operative’s financial year as stated in the Constitution.
At all the other Annual General Meetings the Co-operative must do the following:
- The Board of Directors must present a financial report or independent reviewed report on the past financial year together with the Annual Financial Statements (AFS)
- Approve the report and the Annual Financial Statements (AFS) or independent reviewed report.
- Elect Directors, if required by the constitution
- Elect the supervisory committee, if necessary
- Decide on matters relating to the business and activities of the co-operative
