Resolutions

Question 1

How are board decisions made?

Answer 1

By simply majority - show of hands

Question 2

What happens in Board Meeting deadlock?

Answer 2

Chairman will have casting voite

Question 3

Who is chairman of the board?

Answer 3

Usually chosen by directors

Question 4

How can casting vote be removed?

Answer 4

By Articles

Question 5

What is quorom needed for valid BM?

Answer 5

In Model Articles, never less than two

Question 6

Is a BM needed if unanimous decision?

Answer 6

No

Question 7

Can a board resolution be written?

Answer 7

Yes

Question 8

What types of shareholder resolutions are there?

Answer 8

1) Special resolution
2) Ordinary resolution

Question 9

What is voting on a show of hands?

Answer 9

Each shareholder has one vote

Question 10

What is a poll vote?

Answer 10

One share is one vote

Question 11

Can Articles make provisions more onerous on poll vote?

Answer 11

No

Question 12

What is quorom for a GM?

Answer 12

Two qualifying persons

Question 13

In a written resolution, how are the votes counted up? Is it based on who votes?

Answer 13

All shareholders entitled to vote, rather than those present

Question 14

What resolutions cannot be passed in written resolution?

Answer 14

1) Removal of director
2) Removal of auditor