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

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.

Posted Date: 1/12/2013 5:23:40 AM | Location : United States







Related Discussions:- List of members - meetings and resolutions, Assignment Help, Ask Question on List of members - meetings and resolutions, Get Answer, Expert's Help, List of members - meetings and resolutions Discussions

Write discussion on List of members - meetings and resolutions
Your posts are moderated
Related Questions
Advantages of Arbitration (a) First is, Speed : It is a faster scheme of dispute resolution (b) Second is, Convenient : Parties are free for determine as; Th

Business Names:                             If a company has a place of business in Kenya and carries on business under a business name which does not consist of its corporate

State Article 29 of international law Article 29 states that a member of a diplomatic mission enjoys immunity from arrest or prosecution.

Bagra Used Cars Ltd. has as the most prominent show on its lot an immaculate, highly polished model which rotates slowly on a raised circular platform under powerful floodlights. T

Question1 Describe the term banking and what are the permitted businesses for a banking company as per BR Act 1949 Question2 When is a negotiable instrument considered as

The college contacted the state labor relations commission (LRC) to dismiss the petition due to the law did not needs collective bargaining for those who perform services as studen

ASSETS IN THE POSSESSION OF CREDITORS:  If the creditor has seized assets in the course of executing a judgement for debt against the company and at the commencement of the wi

Silcraze City Council owns and operates a Gym. It charges $20 per month as membership fees. On the Gym Membership Card it is written that the Cardholder has the right to use all th

Compulsory Change: Section 20(2) of the Act provides that within six months of registration with a particular name the registrar may direct a change in name if in his opinion

Continuing Guarantees – Negotiable Instrument A continuing guarantee is such type of a guarantee that extends to a series of transactions, so and such is not exhausted through