A private company may elect (by elective resolution in accordance with section 379A) to dispense with the holding of annual general meetings.

An election has effect for the year in which it is made and subsequent years, but does not affect any liability already incurred by reason of default in holding an annual general meeting.

In any year in which an annual general meeting would be required to be held but for the election, and in which no such meeting has been held, any member of the company may, by notice to the company not later than three months before the end of the year, require the holding of an annual general meeting in that year.

The power of a member under subsection (3) to require the holding of an annual general meeting is exercisable not only by the giving of a notice but also by the transmission to the company at such address as may for the time being be specified for the purpose by or on behalf of the company of an electronic communication containing the requirement.

If such a notice is given F3or electronic commmunication is transmitted, the provisions of section 366(1) and (4) apply with respect to the calling of the meeting and the consequences of default.

If the election ceases to have effect, the company is not obliged under section 366 to hold an annual general meeting in that year if, when the election ceases to have effect, less than three months of the year remains.

This does not affect any obligation of the company to hold an annual general meeting in that year in pursuance of a notice given F4or electronic communication transmitted under subsection (3).

In this section, “address” includes any number or address used for the purposes of electronic communications.