The Regulator’s updates take into account changes introduced by recent legislation including the Corporate Insolvency and Governance Act 2020 which gives RSLs increased flexibility in how they hold Annual General Meetings and Special General Meetings.

The new guidance covers:

• What an RSL should do if its governing body is unable to meet or achieve a quorum;
• What an RSL should do if the membership of its governing body falls below the required number;
• What an RSL should do if it is unable to update its constitution at its next AGM;
• AGMs and SGMs;
• Approval of an RSL’s accounts; and
• Completing and filing accounts on time.

The Regulator first published the advice in April 2020 to help support governing body members in their work during the coronavirus pandemic.

Margaret Sharkey, assistant director of regulation, said: “We’ve updated our advice for RSL governing body members to continue to support them in their work whilst managing the challenges of the coronavirus pandemic.

“It covers the things governing body members have asked us including more information on how to go about holding AGMs and SGMs.

“We will keep the guidance under review and update it as needed. We hope that RSL governing body members find it useful as they continue to work through this challenging time.”

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