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

Find out the ethical issues of the organization, Select a manufacturing org...

Select a manufacturing organization and find out the ethical issues of the organization in the following areas: Production: Marketing & sales: Human Resources & employee relatio

Determine the case against coordination, Determine the Case against Coordin...

Determine the Case against Coordination Coming again to EMU platform we find some arguments against coordination also. For example, the core of the argument against coordinatio

What are the advantages of delegated legislation, What are the advantages o...

What are the advantages of delegated legislation? Advantages of delegated legislation: a. Permits Parliament time to concentrate onto other legislation. b. This is fas

Types and classification of law, Types and Classification of Law: Rule...

Types and Classification of Law: Rules of law may be classified as like;: For Written For National and International For Public and Private For Substantive

Explain about the international commission of united nations, Explain about...

Explain about the international commission of United Nations. The International Law Commission: Established into 1948 year, the mandate of International Law Commission is

Discuss the parties'' criminal liability, QUESTION Albert approaches the...

QUESTION Albert approaches the National Transport Authority to have a taxi's license. The Chairman of the Authority, Mr. Smith, agrees to give him a license provided that Albert

Duty of an auditor, Duty of an auditor: The duty of an auditor general...

Duty of an auditor: The duty of an auditor generally was very carefully considered by this court in RE: LONDON AND GENERAL BANK (1895) and I cannot usefully add anything to wh

Give detail explanation of credibility problem, Give detail explanation of ...

Give detail explanation of Credibility problem There are indications that such credibility problem stems from a tension between the goal of encouraging innovation and investme

Explain ethical decision making, Ethics The influence of personal ethics on...

Ethics The influence of personal ethics on workplace behaviour. (a) Explain in relation to the organisation you researched in Section A of this report why managers should use ethi

How state succession deals with debts and loans, How state succession deals...

How state succession deals with debts and loans The issue relating to state succession deals with debts and loans. When a new state comes into existence, the question arises as

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