VCCs are required to hold an Annual General Meeting (AGM) after the end of each financial year within 6 months. 

A VCC need not hold an AGM if:

a.           The directors of the VCC have given written notice to the VCC’s members, at least 60 days before the last date on which a VCC must hold an AGM, that an AGM for the financial year will not be held; or

b.           The VCC has sent to all persons entitled to receive notice of AGM a copy of the audited financial statements or (in the case of a VCC that is a parent company) of the audited consolidated financial statements and balance sheet. These documents must be accompanied by a copy of the auditor’s report on them. The documents mentioned must be sent not more than 5 months after FYE if the VCC has given notice that an AGM will not be held. Otherwise, these documents must be sent not less than 14 days before the start of the meeting.