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

#title.32228-05, Hi do you have solutions for 32228-05 question on law

Hi do you have solutions for 32228-05 question on law

Legal protection of minorities, LEGAL PROTECTION OF MINORITIES: Accord...

LEGAL PROTECTION OF MINORITIES: According to decisions of English courts, companies are democratic organisations whose affairs are to be managed by the directors according to

Recovery of possession of goods, Recovery of Possession of Goods Howev...

Recovery of Possession of Goods However below S.15 where two-thirds or more about the hire-purchase price has been paid the owner is such precluded from enforcing the rights a

State succession concerns international organizations, State succession con...

State succession concerns international organizations Issue regarding state succession concerns international organizations. There are more than 30,000 treaties entered into be

Prospect of inflationary wage settlements, Prospect of inflationary wage se...

Prospect of inflationary wage settlements The same logic can be applied to various supply side policies. Take, for example, the prospect of inflationary wage settlements. If w

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

Liability , Liability: Liability under the section may arise on the de...

Liability: Liability under the section may arise on the death of a member if the death reduces the membership below the statutory minimum for the particular company and:

Taxtation law, Question 6 Indicate any amounts from these transactions tha...

Question 6 Indicate any amounts from these transactions that is assessable income for the 2016/17 tax year. (a) Frida is a resident taxpayer employed by Sharpe Office Supplies. Sh

Main sources of revenue of local authorities, Question 1: Local Governm...

Question 1: Local Government is generally seen as a system of getting various services run for the local community. What, in your view, are the other distinctive benefits t

Appropriate method adopted is to make new laws, Appropriate method adopted ...

Appropriate method adopted is to make new laws The more appropriate method adopted is to make new laws in compliance with the international laws because it would not only help

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