31Trust to hold an annual general meeting of commoners

#### 31 Trust to hold an annual general meeting of commoners 31 Trust to hold an annual general meeting of commoners > > (1) Except as provided by subsection (2), a trust must, at least once in each calendar year and within the period of 3 months after the end of each financial year of the trust, convene an annual general meeting of commoners. > > > (2) In the case of a trust established after the commencement of section 4, the trust must hold its first annual general meeting of commoners: > > > > > (a) within 18 months after it is established, and > > > > > (b) within 3 months after the end of the trust’s first financial year. > > > (3) On application made in writing by a trust, the Minister may, subject to such conditions as the Minister considers appropriate: > > > > > (a) extend the period of 3 months referred to in subsection (1) or (2) or the period of 18 months referred to in subsection (2), or > > > > > (b) authorise an annual general meeting to be held in a calendar year other than the calendar year in which it would otherwise be required to be held by subsection (1). > > > (4) A trust is not in default in holding an annual general meeting under subsection (1) or (2) if, in accordance with an extension or authority under subsection (3), an annual general meeting is not held within the period or in the calendar year in which it would otherwise be required by subsection (1) or (2) to be held, but is held within the extended period or in the calendar year in which under subsection (3) it is authorised to be held. > > > (5) An application by a trust for an extension of a period or for authorisation under subsection (3) must be made before the end of that period or of the calendar year in which the annual general meeting would otherwise be required to be held by subsection (1) or (2). > > > (6) At an annual general meeting of commoners, the trust concerned must submit to the commoners accounts which provide a true and fair view of the following: > > > > > (a) the income and expenditure of the trust during its last preceding financial year, > > > > > (b) the assets and liabilities of the trust at the end of that financial year, > > > > > (c) any mortgages which, at the end of that financial year, affected the common for which the trust is established. > > > (7) In addition to any other business which may be transacted at an annual general meeting of commoners, the business of such a meeting must include the business of: > > > > > (a) confirming (or otherwise) the minutes of the last preceding annual general meeting (if any) of the commoners, and > > > > > (b) receiving and considering the annual report of the trust, prepared in accordance with section 37, concerning the activities of the trust during the last preceding financial year of the trust (if any), and > > > > > (c) where appropriate, electing the members and office bearers of the trust board, and > > > > > (d) receiving and considering the accounts that are required to be submitted to the commoners in accordance with subsection (6).