Which statement is true about public company requirements under the BCA?

Public companies have specific obligations and requirements established under the Business Corporations Act (BCA), and one of the fundamental requirements is the obligation to hold annual general meetings (AGMs). This requirement is rooted in the principles of corporate governance and accountability, designed to ensure that shareholders have the opportunity to receive important information about the company’s performance, elect directors, and vote on significant corporate matters.

Holding AGMs serves to promote transparency and provide shareholders with a structured platform to engage with management. It is a legal requirement aimed at protecting shareholders' rights and fostering active participation in corporate matters.

In contrast, the other options suggest various scenarios that do not align with the legal framework governing public companies. Public companies cannot simply waive the role of an auditor because financial oversight is a critical aspect of corporate governance. They are also mandated to hold these meetings rather than being exempted from them, and while public companies do operate under regulatory standards, they must adhere to the specific requirements set forth by the BCA rather than being broadly categorized under different standards.

Thus, the necessity for public companies to hold annual general meetings is firmly established, reflecting their commitment to accountability to their shareholders.