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

Functions of attorney general, Functions of Attorney general W...

Functions of Attorney general Whereas under sec 26(2) the Attorney General is the principal legal adviser for government of US And whereas he occupies a ministeria

Advocates, Advocates Whether in sec 3(1) of the Interpretation and Gen...

Advocates Whether in sec 3(1) of the Interpretation and General Provisions Act cap 2 and sec 2 of the Advocates Act (1989) an advocate is a person that whose name has been dul

Laws and regulations, Here, we have outlined the utility of National Buildi...

Here, we have outlined the utility of National Building Code. We have explained the main features of Factories Act. Some of the provisions of Electricity Act and Rules which are re

Remuneration - powers of managing director, Remuneration:             ...

Remuneration:             Article 108 provides that "a managing director shall receive such remuneration (whether by way of salary plus commission or may participation in earn

I need essay writing help, I am looking for essay writing help in topic "Ec...

I am looking for essay writing help in topic "Economic Crisis in Europe"

Acceptance - law of contract, Acceptance - Law of Contract Converse...

Acceptance - Law of Contract Conversely an offer made to the general public can be established through anybody who fulfil that performs then the conditions stated therein.

Registration, Registration:            Whether the aforesaid documents...

Registration:            Whether the aforesaid documents are correctly prepared in accordance with the provisions of the Companies Act they are registered, the registrar grant

Legislative options for addressing phoenix activity, Q. Legislative options...

Q. Legislative options for addressing phoenix activity? There are a range of legislative options for addressing phoenix activity and the following legislative options were expl

Explain the white paper of parliamentary procedures, Explain the white pape...

Explain the white paper of parliamentary procedures. White Paper: It sets out the intention of the legislation and takes in account comments which have been received onto

Define the act of obstructions of justice, Define the act of Obstructions o...

Define the act of Obstructions of Justice UNCTOC has also criminalized the act of Obstructions of Justice and it is stated in the Article 23 that. "Each State Party shall adopt

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