MEETING OF THE BOARD
Board meeting is an important matter under company act 2013.
As per secretarial standard 1 “meeting of the board of director” issued by
institute of companies secretary minimum four board meeting will be held in
each calendar year. One board meeting should be held in each quarter. Time gap
between two consecutive meetings shall be subject to maximum 120 days. In case
of adjourned board meeting the interval between two consecutive board meetings
start from the date of original board meeting.
First board meeting must be hold within 30 days from the
date of incorporation of the company. In such a situation the company may not
held any other board meeting within the first quarter. In the remaining quarter
the company shall convened remaining three board meeting in each quarter subject
to maximum 120 days gap between two consecutive board meetings.
In case of one Person Company, small company and dormant
company board meeting shall be held in each half of a calendar year and the gap
between the two meetings of the board is not less than ninety days.
Board meeting is also including meeting of committees and
meeting of independent directors. Committee should be consisted of by the
directors. Subject to minimum number and frequency stipulated by the board or
as prescribed by any law or authority.
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