LONDON (Reuters) – Companies will be able to hold their annual shareholders’ meeting over the phone or online during the coronavirus pandemic under a promised new law, Britain’s business ministry and accounting watchdog said on Friday.
FILE PHOTO: Britain’s Secretary of State for Business, Energy and Industrial Strategy Alok Sharma arrives at Downing Street in London, Britain, February 25, 2020. REUTERS/Hannah McKay
British business minister Alok Sharma said last month he would propose urgent legislation for companies to meet a legal requirement to hold their annual meetings without breaching curbs on non-essential travel and social distancing during the lockdown.
The ministry and the Financial Reporting Council, which oversees accounting and corporate governance codes, set out on Friday what companies can expect from the new law when parliament partly returns from recess next week, also on a virtual basis.
“We are working on the detail, but we envisage providing companies…
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