Board meeting frequency and virtual participation rules require regular convening, prescribed notice, and independent director safeguards. Companies must hold the first board meeting within thirty days of incorporation and thereafter hold board meetings so that no more than one hundred and twenty days elapse between meetings, with a statutory minimum of four meetings annually; One Person Companies, small companies and dormant companies may instead hold one meeting each half-year with a ninety-day gap. Directors may attend in person or via prescribed video or audiovisual means, certain matters may be excluded from virtual meetings, meetings require seven days' written notice (shorter for urgent business if an independent director attends), and failure to give notice incurs a prescribed penalty.