42Time within which first AGM must be held—transitional arrangement

#### 42 Time within which first AGM must be held—transitional arrangement 42 Time within which first AGM must be held—transitional arrangement > > (1) This section applies to an original owner if the relevant initial period expires during the transition period. > > > (2) An original owner is not required to comply with the Act, section 12(1) during the transition period, and does not commit an offence against the Act or this Regulation because of the non-compliance, if the original owner instead complies with subclause (3). > > > (3) The original owner must convene and hold a general meeting of the association, in accordance with the Act and this Regulation, by 1 June 2022. > > > (4) In this section— > > > > transition period means the period commencing on 1 December 2021 and ending on 1 April 2022. > > **s 42:** Ins 2021 (657), sec 3.