Extraordinary universal meetings, Business Law and Ethics

Assignment Help:

Extraordinary Universal Meetings:

S.132(1) provides for the convening of "extraordinary" general meeting but does not define it.  Neither is the word "extraordinary" defined in any other section of the Act.  However, Table A, Article 48 provides that all general meetings other than annual general meetings shall be called extraordinary general meetings.

Table A, Article 49 further provides that the directors may, whenever they think fit, convene an extraordinary general meeting.  Furthermore through s.132(1), despite anything in the articles of a company, the directors are bound to convene an extraordinary general meeting of the company  on the requisition of the holders of not less than one-tenth of the paid-up capital of the company carrying the right of voting at general meetings of the company, or, if the company has no share capital, of members representing not less than one-tenth of the total voting rights.  S.132(2) provides that the requisition must state the objects of the meeting, and must be signed by the requisitionists and deposited at the registered office of the company.  S.132(3) provides that if the directors do not within 21 days from the date of the deposit of the requisition proceed to convene a meeting, the requisitionists, or any of them representing more than one-half of the total voting rights of all of them, may themselves convene a meeting, so long as they do so within three months of the requisition.

S.132(5) entitles the requisitionists to recover any reasonable expenses incurred in convening the meeting from the company, and the company may in turn recover these from the fees or other remuneration of the defaulting directors.


Related Discussions:- Extraordinary universal meetings

Illustrate the economic and social council of united nations, Illustrate th...

Illustrate the Economic and Social Council of United Nations. UN Economic and Social Council: The Economic and Social Council (ECOSOC) functions as the central forum for

Who are refugees, Normal 0 false false false EN-IN X-...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4 Who are refugees

What do you understand by contract administration, QUESTION (a) Define ...

QUESTION (a) Define the term 'contract' and explain the basic elements which constitute a valid and legally enforceable contract under the English Law (b) What do you unders

Law for Business organisation, The concept of separate legal personality is...

The concept of separate legal personality is fundamental to company law. With close reference to leading cases, explain this concept and its relationship to the doctrine of limit

Distinguish between economic development and economic growth, Question 1: ...

Question 1: a. Distinguish between Economic Development and economic growth. b. "Despite all their diversity, less developed countries are linked by a range of common problems"

Entrepreneurship development, In entrepreneurship development, we have stud...

In entrepreneurship development, we have studied various aspects of Entrepreneurship Development, which will help in setting your own workshop. Though all the information has been

Public company - registration procedures, Public Company - Registration Pro...

Public Company - Registration Procedures: Consent to act as director (Form No 209) If any person is appointed director of the company by the articles which are to be deli

District magistrate''s court - territorial jurisdiction, District Magistrat...

District Magistrate's Court - Territorial Jurisdiction Further in Section 7(3) of the Act giving that 'a district magistrate's court shall have jurisdiction all through the di

Alien tort claims act, Alien Tort Claims Act Problem: You work ...

Alien Tort Claims Act Problem: You work at a New York law firm and have been invited by the partner you work for to attend a meeting with Mrs. Esther Kiobel and a dozen

State the international policy coordination, State the International Policy...

State the International Policy Coordination There may be two sources of interdependence between national economic policies, club goods and horizontal spill overs. The first has

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd