22AExemption from or extension for requirement to hold general meeting

22A Exemption from or extension for requirement to hold general meeting

(1) If holding a general meeting would be unreasonable in the circumstances, a Trust may apply to the Minister for an exemption from, or an extension of time to comply with—

(a) the requirement under section 22(7) to hold an additional general meeting; or

(b) the requirement under section 22(8) to hold an annual general meeting within 6 months after the end of a financial year.

(2) The Minister, if satisfied that it is appropriate in the circumstances to do so, may—

(a) subject to subsections (3) and (4), exempt the Trust from section 22(7) or (8) (as the case requires); or

(b) extend the time period for complying with section 22(7) or (8) (as the case requires).

(3) The Minister must refuse an application for an exemption from the requirement to hold an additional general meeting if—

(a) the Trust has already been exempted from the requirement to hold an annual general meeting in that year; or

(b) the Trust was exempted from the requirement to hold an additional general meeting or annual general meeting in the previous year.

(4) The Minister must refuse an application for an exemption from the requirement to hold an annual general meeting if—

(a) the Trust has already been exempted from the requirement to hold an additional general meeting in that year; or

(b) the Trust was exempted from the requirement to hold an additional general meeting or annual general meeting in the previous year.

(5) An exemption or extension under subsection (2) must—

(a) be in writing; and

(b) specify the period for which the exemption or extension applies, which must not exceed 12 months.