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

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XXIII. Statuory companies

Collection:: Economics Books

STATUTORY COMPANIES 299 borrowed largely from the law already existing and applicable to statutory companies, yet in many other cases the diver- gence is equally strongly marked (see e.g. s. 18 of the Act of 1845, as to transmission, referred to on pp. 302, 303). For this reason very great care is necessary in seeking to apply to statutory companies decisions of the Courts given in regard to companies under the Companies Acts. They may or may not be applicable, according as the wording of one section, or of an article, sufficiently resembles or materially differs from the wording of another section. Very many of the decisions are in point and of value; others are irrelevant and useless, and misleading to the secretary of a statutory company. In considering in any particular case the provisions of the Companies Clauses Acts, the special Act must always be consulted, as the application of some of the clauses in the general Acts is often excluded or limited. In regard to the holding of general meetings, only such business shall be transacted at an ordinary meeting as the 1845 Act or the Company’s Special Act appoints, unless special notice has been given in the advertisement con- vening it. Every general meeting of shareholders, other than an ordinary meeting, is an extraordinary meeting (s. 68 of the 1845 Act). Fourteen clear days’ notice must be given of all meetings, and the quorum is, if not prescribed, an aggregate holding of not less than one-twentieth of the capital, and being in number not less than twenty members or one member for every £500 of such required proportion of capital, whichever be the smaller figure [s. 72]. When the shareholder is a body corporate a voting proxy may be any member of the body, though not personally a shareholder in the company [s. 2 of the Companies Clauses Consolidation Act, 1888 as amended by the Companies Clauses Consolidation Act, 1889]. It would appear that in the case of a statutory company, Proxies. having regard to para. 62 of the standing orders of Parliament, all blanks in the form of proxy for use at general meetings, or at any rate the name of the proxy, must be inserted by the shareholder, and that neither the company nor its secretary has implied authority to fill in any blanks. Statutory companies are not required to use the word Limited’ as part of their name, nor are they registered. A point of considerable interest to the secretary of a statutory company is that unless otherwise provided in the special Act, his remuneration is fixed by a general meeting of the company [s. g1 of the Act of 1845). General Meetings.

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