The supreme body of the JSC, the authority through which the shareholder exercises his rights (except for the unanimous agreement, except for §205).
The General Meeting must be duly convened (the quorum must be capable of expressing the shareholder's will). The General Meeting gives instructions and directs the Board of Directors, the Supervisory Board, the liquidator and other bodies.
The General Meeting is convened min. once a year within the time limit set by the statutes, but up to 6 months from the end of the previous accounting period.
Basic tasks of the regular General Meetings, (annual):
- To decide on an annual financial statement, how to deal with profit or to deal with loss
- Assesses the work of the bodies, grants discharge (see below)
- Discusses the Annual Report on activities of the JSC and the state of its assets
Other general meetings are called extraordinary (convened by the minority shareholder, the board of directors - JSC reports a loss of 1/2 of the basic capital or is in bankruptcy, the Supervisory Board – required by the interests of the JSC).
In one-person JSC the General Meeting does not take place, the competence is exercised by 1 shareholder.