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AAP
AAP
Politics
Colin Brinsden, AAP Economics and Business Correspondent

Companies given more time to hold AGMs

ASIC has granted companies extra time to hold their annual general meetings due to COVID lockdowns. (AAP)

The company watchdog has granted companies additional time to hold their annual general meetings due to restrictions imposed by ongoing coronavirus lockdowns.

All public companies with a financial year between February 21 and July 7 have an extra two months to hold their AGM, the Australian Securities and Investments Commission said on Wednesday.

A public company limited by guarantee with reporting dates between January 24 and April 7 has an additional four months.

"ASIC has granted this extension to allow flexibility for companies preparing for the upcoming AGM season while restrictions on gathering and movement persist during the COVID-19 pandemic," it said in a statement.

"Directors of eligible companies need to comply with their directors' duties in deciding whether it is appropriate to rely on ASIC's relief."

Australia's two largest cities, Sydney and Melbourne, remain in lengthy lockdowns.

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