List of members - meetings and resolutions, Business Law and Ethics

Assignment Help:

List of Members:

S.130(6) provides that the directors shall cause a list showing the names and postal addresses of the members of the company, and the number of shares held through them correspondingly,, just to be produced at the commencement of the meeting and to remain open and accessible to any member of the company during the continuance of the meeting.

By s.130(9) if there is any default in complying with the provisions of s.130, every director of the company who is knowingly and wilfully guilty of the default shall be liable to a fine not exceeding one thousand shillings.

It should be noted that the statutory meeting is not held by a private company, and that it is held only once in the lifetime of a public company.  It is the first official coming-together of the company's members and is held within a very short time after the company is entitled to commence business.  Its timing is important because the members are in fact being given a chance to ascertain, before it is too late, whether the minimum subscription was raised and, in the event of the minimum subscription not having been raised, to decide on whether to avoid the contract of allotment.  These are matters in respect of which any procrastination could be financially disastrous for the members since the company could be put into liquidation before the members had come together to ascertain what had happened since the time the prospectus was issued.


Related Discussions:- List of members - meetings and resolutions

Statutory provisions, STATUTORY PROVISIONS: Article 4 of Table A permi...

STATUTORY PROVISIONS: Article 4 of Table A permits a company to vary the rights attached to any class of shares if the proposed variation is consented to in writing by the hol

Partnership agreement - voidable contracts, Partnership Agreement - Voidabl...

Partnership Agreement - Voidable Contracts Conversely an infant is bound at common law through a partnership agreement although he is free to repudiate it at all time during i

Analyze information security and cybercrime law issues, (A Safe Assign note...

(A Safe Assign note : All work submitted will be checked for plagiarism using an automated tool developed by Blackboard. Work will be checked against a variety of sources including

Define the nuclear law of international law, Nuclear law The importance...

Nuclear law The importance of international law relating to nuclear law lies in the fact that it regulates, conducts and prohibits the use of nuclear weapons. The United Nation

Pooling of assets and liabilities, In 2004 the Corporations and Markets Adv...

In 2004 the Corporations and Markets Advisory Committee proposed that assets and liabilities of companies be aggregated and creditors paid from a common pool which is commonly refe

Business Ethis, . what’s the Kantian case for condemning Clone CD for their...

. what’s the Kantian case for condemning Clone CD for their project?

Define the reflect relative policy stance, Define the reflect relative poli...

Define the reflect relative policy stance We assume that contributions reflect relative policy stance, then the policy positions are perceived only noisily and we get only expe

Right to sell - terms used in contract, Right to sell - Terms used in Contr...

Right to sell - Terms used in Contract With S.14 (a) provides that there is an implied condition such seller has a right for sell the goods and, like in the case of an agreeme

Describe the separate streams of problems and policies, Describe the Separa...

Describe the Separate streams of problems and policies The separate streams of problems, policies, and politics each have lives of their own. Problems are recognized an

Constructive notice - registered office, Doctrine of "Constructive Notice":...

Doctrine of "Constructive Notice":  The doctrine of "constructive notice" is a rule of company law to the effect that a person transacting business with a company is taken to

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