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

Chartered companies, Chartered Companies: A chartered company is forme...

Chartered Companies: A chartered company is formed when the Queen or King of England issues a charter, or "letters patent", to a group of people who intend to carry on a busin

Classification of companies, Classification of Companies: Section 389 ...

Classification of Companies: Section 389 of the Companies Act provides that "no company there association or may partnership consisting of more than twenty persons shall be fo

Business ethics, Imagine yourself in a situation of being encouraged to inf...

Imagine yourself in a situation of being encouraged to inflate your expense account. Do you think your choice would be most affected by your individual moral development or by the

Critically analyze the steps while dealing ethical dilemma, Question: a...

Question: a. An Ethical dilemma is a complex situation that often involves an apparent mental conflict between moral imperatives, in which to obey one would result in transgre

Explain the basic criticism of the stages framework, Explain the basic crit...

Explain the basic criticism of the stages framework The basic criticism of the stages framework is that it, in a formal sense, parallels the cognitive steps of the rational ap

Show the criminal conduct definition of phoenix activity, Q. Show the Crimi...

Q. Show the Criminal conduct definition of phoenix activity? Master Builders argued that the definition of phoenix activity should focus on the existing sections of corporation

Purchase of own shares - merger accounting, Purchase Of Own Shares: An...

Purchase Of Own Shares: Another possible way in which a company's paid-up capital may leave the company other than in the ordinary course of the company's business would be if

Publication, PUBLICATION: Whether in section 46(3) of the constitution...

PUBLICATION: Whether in section 46(3) of the constitution states that like, upon a Bill that has been passed through the National Assembly being presented to the President for

What do you understand by collective bargaining, QUESTION 1 Outline the...

QUESTION 1 Outline the procedure and criteria for the granting of recognition of representational status and recognition of negotiating rights QUESTION 2 (a) What do yo

How to calculate capacity of the system, David wants to open a restaurant i...

David wants to open a restaurant in Melbourne. He engages Robert Boyd Pty Ltd, an architectural firm, to design the restaurant interior and exterior including the layout and positi

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