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      Question

      Based on the provisions of the Companies Act, which of

      the following statements correctly reflects the Board meeting requirements for a company?
      A The company must conduct its first Board meeting within 30 days of incorporation and thereafter hold at least five Board meetings each year, ensuring that no more than 100 days can pass between consecutive meetings Correct Answer Incorrect Answer
      B The first meeting of the Board should be held within 30 days of incorporation, with a minimum of four meetings per year required, and the gap between consecutive meetings must not exceed 125 days Correct Answer Incorrect Answer
      C The company is obligated to hold its initial Board meeting within 30 days from the date of incorporation, and must conduct at least four Board meetings annually, with the stipulation that no more than 120 days can elapse between any two consecutive meetings Correct Answer Incorrect Answer
      D Within 30 days of its incorporation, the company must convene its first Board meeting and is then required to hold a minimum of five meetings each year, with a maximum of 90 days allowed between any two consecutive meetings Correct Answer Incorrect Answer
      E After holding the first Board meeting within 30 days of incorporation, the company must ensure at least four Board meetings per year, but the time between consecutive meetings may extend to a maximum of 150 days Correct Answer Incorrect Answer

      Solution

      Section 173. Meetings of Board: (1) Every company shall hold the first meeting of the Board of Directors within thirty days of the date of its incorporation and thereafter hold a minimum number of four meetings of its Board of Directors every year in such a manner that not more than one hundred and twenty days shall intervene between two consecutive meetings of the Board.

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