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

Terms used in contract, Terms used in Contract However there are certa...

Terms used in Contract However there are certain terms may identify conditions and warranties like are implied into every contract covered through the Sale of Goods Act where

A contract of employment or a procedure agreement, QUESTION 1 Write in ...

QUESTION 1 Write in detail on the following (a) Agency shop orders and (b) Decrease from the remuneration of a worker for the employer's benefit QUESTION 2 An indust

Analyse the link between csr and competitiveness, Question 1 "CSR can play...

Question 1 "CSR can play a key role in contributing to sustainable development while enhancing Europe's innovative potential and competitiveness" Critically analyse the link be

The law making process of primary legislation in mauritius, QUESTION 1 ...

QUESTION 1 Interpreting legislation is a very important function of the Court. However, Judges must only have recourse to the intention of parliament while interpreting legisla

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

Defines controlled delivery, Defines Controlled delivery This conventio...

Defines Controlled delivery This convention legalized the act of Controlled delivery and defines "Controlled delivery" as "the technique of allowing illicit or suspect consignm

Business entity, Sole proprietorship, partnership and company

Sole proprietorship, partnership and company

Define the types of interaction, Define the types of interaction on which l...

Define the types of interaction on which literature can be found There are two types of interaction on which literature can be found. These are interactions within the legisla

Concept of authority - agency law, Concept of Authority - Agency Law W...

Concept of Authority - Agency Law Whether this is the oral or written permission conferred on a person through another to do a particular thin.  Thus it is a factual concept a

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