—(1) After the first annual general meeting has been held, an annual general meeting of a management corporation shall be held in each calendar year and not more than 15 months after the holding of the last preceding annual general meeting.
(2) A meeting of the management corporation which is not an annual general meeting shall be held whenever it is convened by the council and shall be an extraordinary general meeting.
(3) Except as otherwise provided in section 26, the First Schedule shall apply to and in respect of any meeting of a management corporation, and voting at that meeting.
(4) Where after the holding of an annual general meeting of a management corporation —
no annual general meeting of the management corporation is next held in accordance with subsection (1); or
the next annual general meeting of the management corporation is held after the time limited by subsection (1) for its holding,
the chairperson and the secretary of the management corporation shall each be guilty of an offence.
(5) Where any person is charged with an offence under subsection (4), it shall be a defence to prove that he took all reasonable steps and exercised all due diligence to secure compliance with this section.
[LT(S)A, ss. 38(1), 40]