Proceedings at meetings - held, Business Law and Ethics

Assignment Help:

Proceedings at meetings - Held:

Held: The resolution as passed was invalid since it was not the special resolution of which notice had been given.  Even the retention of 321 pounds out of 1.4m pounds is a change of substance.

(b)  If the chairman wrongly rejects an amendment and the resolution is carried in its original form it is invalid.  If he allows the amendment to be discussed it should be put to the vote before the original resolution.  If the amendment is carried the resolution as amended is then put to the vote.

(c) The rights of members to vote and the number of votes to which they are entitled in respect of their shares are fixed by the articles.  One vote per share is normal but some shares, eg. preference shares, may carry no voting rights in normal circumstances.  To shorten the proceedings at meetings the procedure is:

 i. on putting a resolution to the vote the chairman calls for a show of hands, ie. one vote may be given by each member present in person: proxies do not vote.  The chairman declares the result.  Unless a poll is then demanded, the chairman's declaration (duly recorded in the minutes) is conclusive.  No one can re-count hands after the meeting (but see para 35 below).

 ii. If a real test of voting strength is required a poll may be demanded.  The result of the previous show of hands is then disregarded.  On a poll every member and also proxies representing absent members may cast the full number of votes to which they are entitled.  A poll need not be held forthwith but may be postponed so that arrangements to hold it can be made.

Although the chairman's declaration of the result of a vote on a show of hands is made "conclusive" (by the articles {Table A Art 58} and by CA s.141(2) as regards special resolutions) unless a poll is demanded, this is not as absolute and final a decision as the word "conclusive" suggests.  It prevents subsequent argument about the count of hands raised on a show of hands.  But it is still possible to challenge the chairman's declaration on the ground that it was fraudulent or manifestly wrong.


Related Discussions:- Proceedings at meetings - held

What is the unclos 1982, The UNCLOS 1982 The UNCLOS 1982 does not stop ...

The UNCLOS 1982 The UNCLOS 1982 does not stop at gauging the limits of the territory of coastal states. Other features of the Convention include the right of transit of landloc

Right to prior repayment, Right to prior repayment: Therefore this was...

Right to prior repayment: Therefore this was not variation of class rights since the existing preference shareholders had the same number of shares (and votes at a class meeti

Explain the concept of territory, Explain the concept of TERRITORY Stat...

Explain the concept of TERRITORY State is the most important subject of international law. It can be defined as a population, living in a definite territory that has government

Media Law, online Law test, Due tomorrow December 14th, 20 multiple choice...

online Law test, Due tomorrow December 14th, 20 multiple choice questions and 4 essay questions. Topics, Obscenity, child porn; broadcasting indecency, citizens united, ipr & cop

State article 10 of air and outer space law, State Article 10 of air and ou...

State Article 10 of air and outer space law Article 10 allows the aircraft to cross the territory of a contracting State without landing, and further states that every aircraft

Collecting banker, Collecting Banker Furthermore a collecting banker i...

Collecting Banker Furthermore a collecting banker is protected through the following provisions: like; (i)Bills of Exchange or Swap Act.  with S.82 (1) provides such a ban

Discuss the law relating to the rights and duties, QUESTION 1 Your moth...

QUESTION 1 Your mother makes delicious cakes and your wife suggests the idea of setting up a business to market these products. The cakes will be prepared by your mother and a

Manage the currency risks using the futures contract, Question 1: (a) "...

Question 1: (a) "A tourist resort which does business in a single currency is not exposed to currency risk." Discuss (use example to support your answer). (b) Case: Hedging

Class meetings - meetings and resolutions, Class Meetings: "Class meet...

Class Meetings: "Class meetings" are not provided for by the Act.  however, a class meeting may be held pursuant to the provisions of the company articles of association, if a

Chaos Monkeys, Discuss the character of Mr. Martinez and the relationship b...

Discuss the character of Mr. Martinez and the relationship between his personal life and work life. Do effectiveness in Silicon Valley and on Wall Street require that one be like M

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