Company Meetings Flashcards
1
Q
Who can call a directors meeting?
A
- A director or an employee may call a board meeting by giving no less than two days’ notice to the members of the board.
2
Q
What are the notice requirements?
A
- The notice to the directors must include the date, time and place of meeting, and the matters to be discussed.
3
Q
What is the quorum requirement?
A
- A quorum for a meeting of the board is a majority of the directors. the board, without a quorum of directors cannot make decisions and transact business.
4
Q
How are decisions made?
A
- Decisions at board meetings are made unanimously by all directors present at the meeting or by the majority of directors. Unless specified in the constitution, the chairperson does not have a casting vote and every director has one vote.
5
Q
How do they resolve disagreements between directors?
A
- There is a presumption that a director present at the meeting has agreed to and voted for the proposed resolution unless he or she expressly dissents or votes against the resolution.
6
Q
When is a company to hold a meeting according to s 120 of the Companies Act?
A
- At least once In every year and within six months of balance date. This is called the annual general meeting.
7
Q
When must a company hold its annual general meeting once registered?
A
- Within 18 months of being registered.
8
Q
What is a special meeting?
A
- A special meeting of shareholders may be called at any time by the board, or a person authorized by the constitution to do so. A special meeting must be called by the board on the written request of shareholders holding not less than 5% of voting rights.
