(1) Subject to subsection (2), the annual general meeting of a company shall be held in the State and any business transacted at a meeting held in breach of this requirement shall be void unless -
(a) either all the members entitled to attend and vote at such meeting consent in writing to its being held elsewhere or a resolution providing that it be held elsewhere has been passed at the preceding annual general meeting; and
(b) the articles do not provide that the annual general meeting shall be held in the State.
(2) Subsection (1) shall not apply to the first annual general meeting of a company held on or after the operative date.