10 Corporate Administration Flashcards
What type of company must always have a company secretary?
A public company
What must a secretary of a public company be qualified in?
- Held office in a PLC for at least 3 out of 5 years
- Or is a solicitor, barrister or member of ACCA, ICAEW, CIMA, ICSA, CIPFA
- By virtue of other position seems capable
What contracts can a company secretary bind?
Of administrative nature
What resolutions is an auditor appointed by?
Ordinary
What must an auditor not be?
Officer or employer of the company or a partner of these
How do you remove an auditor?
Through ordinary resolution and with a special notice at a general meeting
How does an auditor resign?
Written notice to the company and they may require directors to call a meeting within 28 days if their are circumstances connected with the resignation.
When does a public company need to hold an AGM?
Within six months following their financial year end.
How much notice do you need for an AGM?
21 days every member entitled to attend and vote agrees to a shorter period
What is the business of an AGM?
- Accounts
- Appoint Auditors
- Elect Directors
- Declare Dividends
What is the notice period for a general meeting?
14 days
Who can call a general meeting?
A member with with 5% paid share capital. Directors must call it with 21 days and the meeting must take place within 28 days.
What is a special resolution?
75 % required to pass, to the registrar in 15 days and deals with alter of name, articles or objects and reductions of share capital or winding up of company.
