What is statutory meeting?

A statutory meeting is a formal meeting required by law for certain types of companies, typically newly formed companies, shortly after their incorporation. The purpose is to give shareholders the opportunity to review the company's documentation, including the memorandum and articles of association, and to ask questions about the company's formation and initial operations. The specifics of when and how the meeting must be held are dictated by the relevant company law. Failure to hold a statutory meeting correctly can have legal consequences.