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

Effect of voluntary winding up, Effect of Voluntary Winding Up: The ma...

Effect of Voluntary Winding Up: The main difference in legal consequences between a compulsory and voluntary winding up are: (a) A voluntary winding up commences on the day

Sunbed act 2012, state the date on which the act came into force

state the date on which the act came into force

Code of ethics for nurses, Case Study You have been asked to serve as a nur...

Case Study You have been asked to serve as a nursing representative on a government committee to look at funding for health care of undocumented individuals who work in the United

Determining the capital requirements for credit risk, Question: a) The...

Question: a) The first pillar of Basel II provides a range of options for determining the capital requirements for credit risk and operational risk to allow banks and supervi

Nature and categorization of law, NATURE AND CATEGORIZATION OF LAW: He...

NATURE AND CATEGORIZATION OF LAW: Here the term "law" has no consigned meaning.  It is utilized in a variety of senses.  Nonetheless different writers have bond to explain the

Judges of appeal, Judges of Appeal, Attorney and Registrar Judges of...

Judges of Appeal, Attorney and Registrar Judges of Appeal However a "judge of appeal" is a judge that who is appointed to the Court of Appeal. Attorney - General

What are the main sources of european law, What are the main sources of Eur...

What are the main sources of European Law? There are three main sources of EU (European) law: a. Primary legislation: It is the Treaties of Rome and Paris that initial

Demonstrate of mintzbergs roles of management, Question: Joe is the reg...

Question: Joe is the regional manager of a multinational company operating in your country. This business manufactures toys for children and sells them in several other countri

Concept of authority - agency law, Concept of Authority - Agency Law W...

Concept of Authority - Agency Law Whether this is the oral or written permission conferred on a person through another to do a particular thin.  Thus it is a factual concept a

Judicial control - subsidiary legislation, Judicial Control: Conversel...

Judicial Control: Conversely the courts can declare any law made as subsidiary legislation to be invalid or unacceptable under the ultra vires doctrine. Thus the law may be de

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