Preparation
of the PV-AGO 2022: Important information for companies in Morocco
The period
of preparation of the Minutes of the Ordinary General Meeting (PV-AGO) for the
year 2022 is underway in Morocco. It is essential for businesses to meet
deadlines and legal requirements to ensure good governance and compliance with
applicable regulations. we will cover the main information to know for the
preparation of the PV-AGO, including the deadlines, the reports required and
the consequences of the important losses.
1. Deadline for holding the Ordinary General Meeting (AGO):
According to
the regulations in force, the OGM must be held no later than June 30, 2023. It
is essential for companies to set an appropriate date for the OGM and to
communicate this information to all the shareholders concerned.
2. Submission of the report or commercial declaration:
Within 30
days of the date of the AGO, companies must file the Minutes (PV) or the
commercial declaration with the competent authorities. This document must be
accompanied by financial summary statements, such as the balance sheet, the
income statement and the appendix.
3. Report of the Statutory Auditor (CAC) for LLCs with turnover
exceeding 50 million:
Limited
Liability Companies (SARL) whose turnover exceeds 50 million dirhams must
include in their PV-AGO a report from the Statutory Auditor (CAC). This report
provides independent assurance on the reliability of the financial information
presented.
4. Losses exceeding 3/4 of the capital:
If a company
finds in its PV-AGO that the losses have exceeded 3/4 of the capital in 2022,
it must plan to hold an Extraordinary General Meeting (AGE) no later than
September 30, 2023. The AGE will make it possible to make important decisions
regarding the company's financial situation, such as raising capital or
reducing losses.
The
preparation of the PV-AGO for the year 2022 is a crucial step for companies in
Morocco. By meeting deadlines and legal requirements, companies can ensure good
governance and compliance with applicable rules. It is recommended that you
consult with an accountant or corporate law professional to ensure that all
steps are followed correctly. By acting in compliance with regulations,
companies can enhance their transparency and credibility with stakeholders.
To file the
summary statement online: Create an account on the portal
https://depotbilan.justice.gov.ma
To receive
the Ordinary General Meeting (AGO) minutes template free of charge, please
contact us by providing your e-mail address.
