chapter  8
9 Pages

The payment of dividends

This chapter provides that a notice calling an annual general meeting of a public company must state that the meeting is an annual general meeting. It also provides for the members' power to require directors to call meetings. The directors of a public company are obliged to call an extraordinary general meeting where the net assets of the company are half or less of its called-up share capital. Most of the rules that apply in relation to company meetings also apply in relation to class meetings. At common law, a meeting must be made up of more than one person. If a poll is conducted by a traded or quoted company, the resolution and the result of the voting have to be published on a website. If the chairman improperly rejects an amendment and the unamended resolution is then passed, that resolution is then invalid. The chapter provides for the court to order a meeting.