The Government has approved a further extension of a COVID-related measure that allows businesses to hold their annual general meetings (AGMs) virtually.

Under the extension, 240,000 companies and 950 industrial and provident societies will be able to hold their AGMs and general meetings by electronic means until 31 December 2024.

The provision follows the extension of the interim period of the Companies (Miscellaneous Provisions) (Covid-19) Act 2020.

Certainty

The act makes temporary amendments to the Companies Act 2014 and the Industrial and Provident Societies Act 1893 to address issues arising as a result of COVID-19.

Dara Calleary (Minister for Trade Promotion, Digital and Company Regulation) said that the extension would provide longer-term certainty for companies and co-operatives.

“This extension will provide for consistency into 2024, when my department will be bringing forth permanent legislative provisions in relation to virtual and hybrid meetings,” he added.