(2)Every annual general meeting shall be called for a time during business hours, on a day that is not a public holiday, and shall be held either at the registered office of the company or at some other place within the city, town or village in which the registered office of the company is situate [* * *] [ The words " and the notices calling the meeting shall specify it as the annual general meeting" omitted by Act 65 of 1960, Section 43 (w.e.f. 28.12.1960).]:[Provided that the Central Government may exempt any class of companies from the provisions of this sub-section subject to such conditions as it may impose:Provided further that-(a)a public company or a private company which is a subsidiary of a public company, may by its articles fix the time for its annual general meetings and may also by a resolution passed in one annual general meeting fix the time for its subsequent annual general meetings; and(b)a private company which is not a subsidiary of a public company, may in like manner and also by a resolution agreed to by all the members thereof, fix the time as well as the place for its annual general meeting.]
