Proceedings at meetings - meetings and resolutions, Business Law and Ethics

Proceedings at Meetings:

(a)Each item of business comprised in the notice should be taken separately, discussed and put to the vote.  Members may propose ammendments to the resolutions.  The chairman should reject any amendment which is outside the limits set through the notice convening the meeting.  With ordinary business this rule may present no difficulty with special business, which has necessarily been described in details in the notice, there are only limited possibilities of amendment.  If the special business is an ordinary resolution it may be possible to amend it so as to reduce its effect to something less (provided that the change does not entirely alter its character) eg. an ordinary resolution authorising the directors to borrow 100,000 pounds might be amended to substitute a limit of 50,000 pounds (but not to increase it to 150,000 pounds as 100,000 pounds would have been stated in the notice).  It is not possible to pass a special resolution which differs in substance from the text set out in the notice.

                   Case:  RE MOORGATE MERCANTILE HOLDINGS (1980)

A special resolution set out in the notice provided for the total cancellation of a share premium account balance of 1,356,900.48 pounds since the assets which it represented had been lost ( form of reduction of share capital).  At the meeting the resolution was amended, for technical reasons, to reduce the balance to 321.17 pounds and it was passed in that form.

Posted Date: 1/12/2013 5:46:07 AM | Location : United States







Related Discussions:- Proceedings at meetings - meetings and resolutions, Assignment Help, Ask Question on Proceedings at meetings - meetings and resolutions, Get Answer, Expert's Help, Proceedings at meetings - meetings and resolutions Discussions

Write discussion on Proceedings at meetings - meetings and resolutions
Your posts are moderated
Related Questions
Question 1: Constructive dismissal is inherently different from dismissal in the sense that it is the employee who necessarily takes the initiative in considering the contract

What are the aspects  of  immunity  from  jurisdiction There  are  various  aspects  of  immunity  from  jurisdiction  and  state jurisdiction is often misunderstood with act o

Question 1: (a) Expliquez les conditions qui doivent être réunis pour la formation d'un contrat. (b) Expliquez les differentes modes selon lesquels un contrat peut prendre

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

Partnerships - Unincorporated Associations Conversely Partnership is defined through S.3 (1) of the Partnership Act as "the relation that subsists between persons carrying at

For the resource journal, you'll need to assemble: An Award and an Agreement plus a minimum of three samples of legislation that have grievance and/or dispute resolution process

Calls On Contributories:                                       Every person who is a member of the company at the commencement of winding up and every past member is in princi

What are the effects of the monetary expansion The first diagram corresponds to the case when both countries maintain a fixed exchange rate, and the second is when they allow

American citizens can utilize their Courts only under certain conditions and circumstances. That is, there are both formal and informal "barriers" to access the legal system.

Contents and Form of Accounts - Accounts and audit: By s.149(1), every balance sheet shall give a true and fair view of the state of affairs of the company as at the end of it