Company Law (Topic 5 : Meeting)

What is an 'ordinary resolution?'

• A resolution that is passed by 50 per cent or more of the members.

• A resolution that is passed by a majority of not less than 75 percent.

• A resolution that is passed if 100 per cent of the members agree.

• A resolution that is passed by a simple majority.

Regarding written resolutions, which ONE of the following statements in true?

• The members of a private company can request a written resolution, providing they hold a minimum of 10 per cent of the total voting rights in the company.

• In order to pass a written resolution, unanimity is required.

• The written resolution procedure cannot be used to remove an auditor before the expiry of his office.

• The written resolution procedure can be used by both public and private companies.

Only the directors have the power to call a general meeting. True or false?

• True

• False

What is the notice period for the annual general meeting of a public company?

• More Twenty-one clear days.

• Within Twenty-one clear days

• More Fourteen clear days.

• Within Fourteen clear days, unless the articles provide for a longer period.

What is a 'quorum?'

• The minimum number of 'qualifying persons' required in order to validly conduct business.

• A meeting that lacks a chairman.

• The maximum number of persons who may attend a meeting.

• A meeting that is invalid because sufficient notice has not been provided.

The general rule is that, at company meetings, each member has one vote per share

• True

• False

Are all companies required to hold an annual general meeting (AGM)?

• Both public and private companies are required to hold an AGM.

• Both public and private companies are required to hold an AGM, but private companies can opt out of this requirement.

• Only public companies are required to hold an AGM, but they can opt out of this requirement

• Only public companies are required to hold an AGM.

What is a 'proxy?'

• A person appointed, on behalf of a member, to attend, speak and/or vote at a general meeting on the member's behalf

• A member who appoints another person to attend, speak and vote at a general meeting on his behalf.

• A member who has agreed not to use the votes attached to his shares.

• A director of a company who owns shares in that company.

Which the following statement describe Section 340(3)

• Subsequent AGMs must be held every calendar year but not later than 6 months from the end of the company’s financial year.

• If a company is not able to hold its AGM within the prescribed time, company may apply an extension from ROC .

• ¢a company must hold its AGM within 6 months of the company’s financial year end.

• first AGM must be held within 18 months after its incorporation.

Sec 316(2) at least 21 days’ notice must be given to the members before the AGM

• True

• False