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

Legal procedures - winding up , Legal Procedures: The court may order ...

Legal Procedures: The court may order the examination in private or public (ie. open court) of an officer of a company in liquidation or of any person known or suspected to ha

Implied powers rule, Implied powers rule: The courts would regard such...

Implied powers rule: The courts would regard such things as impliedly within the company's powers unless they are "expressly prohibited" by the memorandum. The range of transa

Explain international law on siachen issue, /* Style Definitions */ table...

/* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-prior

Directors to perform the duties, Directors to perform the duties: Ther...

Directors to perform the duties: Therefore it cannot be that the auditors  are to be at the expense and trouble not merely of sending their report through the post but of deli

Disclosed principal, Disclosed Principal - Relations between Agent and Thir...

Disclosed Principal - Relations between Agent and Third Party Whether the agent acted to a disclosed principal through informing the third party such he was an agent acting to

What are the procedures that an employer needs to follow, QUESTION 1 Wi...

QUESTION 1 With the coming into force of the Employment Rights Act, how far has the freedom of the employer to unilaterally terminate contracts of employment been curtailed?

International labour conference for double-discussion, The work of the Inte...

The work of the International Labour Organisation in regard to the adoption and implementation of Conventions and Recommendations involves Member States in a number of constitutio

Civil remedies by a copyright owner, QUESTION 1 (a) List down the remed...

QUESTION 1 (a) List down the remedies that are available for breach of contract (b) Elaborate on two of them QUESTION 2 What are the duties of seller and buyer under

When is an employer vicariously liable, When is an employer vicariously lia...

When is an employer vicariously liable? An employer is vicariously liable when: a. When Employer authorised. b. When unauthorised procedure utilized when executing an aut

Ethical decision making project, This activity brings together the ethical ...

This activity brings together the ethical issues, concepts, and statutes presented in your readings, lectures, and discussed in your chat sessions. You will select two (2) scenario

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