A meeting of shareholders that must be held at least every fifteen months or six months after the end of the corporation’s financial year. Annual meetings are identified and defined by the happening of three items of business:
- election of directors;
- receipt of annual financial statements and the report of the auditor on such statements; and
- appointment of an auditor (unless dispensed with by unanimous agreement of shareholders in certain circumstances).
All other meetings are called “special meetings.” To the extent any business other than the three items above is carried on at an annual meeting, it is called an “annual and special meeting.”