176. Convening of extraordinary general meeting on requisition Flashcards
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- Convening of extraordinary general meeting on requisition
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General overview
[176.01] Sections 176 and 177 provide that members can requisition for the company to hold an extraordinary general meeting (“EGM”). Under s 176(1), members holding not less than 10% of the total number of paid-up shares, or in the case of a company not having a share capital, members representing not less than 10% of the total voting rights of all the members having at the date a right to vote, can requisition the directors of the company to hold an EGM. When the directors receive such a requisition, they (i.e. the board) have to immediately convene the EGM to be held as soon as practicable, but not later than two months after receipt of the requisition.
