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Bare acts > State Financial Corporations Act, 1951 > Section 36


36. General meetings.- (1) A general meeting (hereinafter referred to as the annual general meeting) shall be held annually at a place in the State where there is an office of the Financial Corporation within four months from the date on which the annual accounts of the Financial Corporation are closed, and a general meeting may be convened by the Board at any other time.

*[(2) The shareholders present at the annual general meeting shall be entitled to discuss and adopt-

(a) the balance-sheet and profit and loss account of the Financial Corporation made up to the date on which its accounts are closed and balanced;

(b) the report of working of the Financial Corporation for the period covered by the accounts;

(c) the auditor's report on the balance-sheet and accounts; and

(d) proposals for declaration of dividend and capitalisation of reserves.

(3) The shareholders present at an annual general meeting may also discuss any other matter to be transacted at such meetings in accordance with the provisions of this Act.]

*[Sub-section (2) was substituted with subsection (3) was inserted vide State Financial Corporations Amendment Act, 2000, section 24]






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