Secretarial practice

Bibliographic data

Monograph

Identifikator:: 1828236004

URN:: urn:nbn:de:zbw-retromon-249926

Document type:: Monograph

Title:: Secretarial practice

Edition:: fourth edition

Place of publication:: Cambridge

Publisher:: W. Heffer & Sons Ltd

Year of publication:: 1930

Scope:: viii, 987 Seiten

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XII. Meeting of shareholders

Collection:: Economics Books

£36 SECRETARIAL PRACTICE A transmission clause is usually inserted in articles, enabling any person who becomes entitled to shares, in consequence of the death or bankruptcy of any member, to be registered in respect of those shares, and to exercise the right of voting. In the case of joint holders of shares, the articles usually give the holder whose name appears first in the register the right of voting. The bearers of share warrants are usually given power to vote, but on certain conditions (e.g. that the warrants are produced and lodged for a stated time for examination). Voting when The articles usually forbid any member upon whose shares Calls are due. any calls are in arrear to vote; and it has been held that, where an article provided that a member should not be entitled to vote whilst any call or other sum should be due and payable in respect of his shares, and the shares of a member were forfeited for non-payment of calls, the purchaser of the forfeited shares, which had been re-sold to him by the company with a certificate stating that he was to be deemed to be the holder of thie shares discharged from all calls due, was not entitled to vote [Randt Gold Mining Co. v. Wain- wright (1901), I Ch. 184]. The articles also sometimes preclude from voting any member who has acquired his shares less than three months (or other specified period) before the date of the meeting. The fact that one member holds a proxy for another does not entitle him to another vote on a show of hands, but it appears that if the articles allow proxies to be given to non- members, every such non-member who holds a proxy can give one vote [Ernest v. Loma Gold Mines (1897), 1 Ch. 1]. Company Re- As regards voting by the representative of another com- presentation. pany holding shares in the company of which the meeting is being held, inasmuch as, by s. 116 of the Act, the representa- tive (who may be one of the officials of the company or any other person), must be authorised by resolution of the directors or other governing body, the chairman of the meeting will be entitled to reasonable evidence of the representative's appointment. It has been held that he may properly admit the vote on the evidence afforded by a copy of the resolution (Colonial Gold Reef v. Free State Rand (1914), 1 Ch. 382]. Such a representative may be reckoned in the quorum. The power to appoint a representative is now given to every corporation whether a company within the meaning of the Act or not and extends to class meetings of shareholders and to meetings of creditors as well as to general meetings. Under the new Act therefore a corporation incorporated abroad can exercise this power, Proxy.

Access restriction

Copyright

fullscreen: Secretarial practice

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation