Swedish Government Proposes that the Temporary AGM Act be Reintroduced

On February 3rd, the Swedish Government submitted a bill to the Riksdag with a proposal to reintroduce the temporary AGM Act, which ceased to apply at the turn of the year.

The Act on Temporary Exemptions to Facilitate the Conduct of General and General Meetings, also known as the Provisional General Meeting Act, was introduced in the spring of 2020 to facilitate the conduct of general and general meetings in a way that limits the risk of spreading covid-19. It enabled corporations and economic associations to conduct their meetings completely without physical participation. The law was limited in time and expired at the turn of the year.

“There were many companies and associations that could conduct their meetings with reduced risk of infection spreading in 2020 and 2021. The government sees that there may be a need to be able to conduct meetings remotely this year as well,” says Minister of Justice Morgan Johansson.  

The provisions mean, among other things, that a meeting can be held either by electronic connection in combination with postal voting, or by the shareholders or members participating in the meeting only by postal voting.

The Government proposes that the Annual General Meeting Act be reintroduced on 1 March 2022 and applies until the end of the year.