Failing to hold annual general meetings

In February 2019, LAM WAI KEUNG, as a director of MY FAIR BEAUTY LIMITED (CR No. 1931404) (“the Company”), was prosecuted by the Companies Registry and convicted at the Eastern Magistrates’ Courts (i) under section 610(1) of the Companies Ordinance, Cap. 622 (“the Ordinance”) for failing to hold annual general meetings of the Company for the financial years 2016 and 2017 within 9 months after the end of the relevant accounting reference periods and (ii) under section 429(1) of the Ordinance for failing to take all reasonable steps to lay before the Company in its annual general meetings a copy of the financial statements, directors’ report and auditor’s report on those financial statements within 9 months after the end of the relevant accounting reference periods for the financial years 2016 and 2017 respectively. The Court imposed a fine of HK$4,000 for each charge of failure to hold annual general meeting, and a fine of HK$6,000 for each charge of failure to lay accounts at annual general meeting. A total fine of $20,000 was imposed by the Court.

Case Source from: Hong Kong Companies Registry
https://www.cr.gov.hk/en/compliance/prosecution/case-20190213-3.htm