Company decisions Flashcards
1
Q
Who can demand a poll vote? (2)
A
i. Person(s) with at least 10% shareholding
ii. 5 or more members
2
Q
What is the notice period for a BM?
A
At reasonable notice
3
Q
What is the notice period for a GM?
A
14 clear days
4
Q
Name 2 procedures to speed up company decisions?
A
- short notice GM
- written resolution
5
Q
When can a written resolution be used?
A
- private company
- proposed by director or SH with 5% or more
- decision other than removal of auditor/director
6
Q
Who can call a short notice GM?
A
- majority of SH
- who together hold at least 90% of the shareholding
7
Q
Who can require directors to call a GM (s303)?
A
Shareholders with at least 5% shareholding
8
Q
What are the 3 main PMM filings?
A
- update registers
- update company statutory books with minutes
- CH: copies of resolutions/articles
9
Q
Within how may days should CH filings be made?
A
15
10
Q
Describe the process for a SN meeting and WR. List the 4 steps for each
A
Short notice
1. BM adjourned
2. SN (GM)
3. BM1 reconvened
4. PMM
Written resolution
1. BM adjourned
2. WR (no GM)
3. BM1 reconvened
4. PMM
11
Q
When does a WR lapse?
A
after 28 days
