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

Possible proceeding under the fair work act, As part of this project, exper...

As part of this project, expert input was provided by employment law specialists Herbert Geer. Herbert Geer raised the possibility that the FWO could recover amounts lost by indivi

State article 19 and 20 of air and outer space law, State Article 19 and 20...

State Article 19 and 20 of air and outer space law Article 19 refers to the registration or transfer of registration of aircraft in any contracting State shall be made in acc

Discuss the advantages of arbitration over litigation, QUESTION 1 Mr To...

QUESTION 1 Mr Tom, a businessman, has a commercial dispute with one of his clients. He has heard about Alternative Dispute Resolution and he believes that mediation, conciliati

District magistrate''s court - criminal jurisdiction, District Magistrate's...

District Magistrate's Court - Criminal Jurisdiction However Statute Law like as Miscellaneous Amendments Act 1983 amended the criminal jurisdiction of district magistrate's co

Important points - contractual capacity of drunken persons, Important point...

Important points - Contractual Capacity of Drunken Persons Here the following points should be notice for as: Ratification Well a drunken man who enters into

Investigation of companys affairs, Investigation of Company's Membership: ...

Investigation of Company's Membership: Section (1) empowers the registrar to appoint one or   more competent inspectors to investigate and report on the membership of any comp

What is the use of self defence, What is the  use of self defence The ...

What is the  use of self defence The controversy regarding the use of self defence is the 'anticipatory self-defence'. Those with a restrictive view state that it no longer e

International financial crime , During the first lecture students asked for...

During the first lecture students asked for some assessments topics to guide them in the decisions that they need to take. Please note that: 1   Students may still formulate the

Teleological approach to client representation- case, Bobby K is pursuing t...

Bobby K is pursuing the teleological approach to client representation, meaning that the result is all he's after - case closed! Not exactly a win-win but a "settlement" and closur

Working of state jurisdiction, Working of State jurisdiction State juri...

Working of State jurisdiction State jurisdiction concerns essentially the extent of each State's right to regulate conduct or consequences of events. A state has the competence

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