Rights of all shareholders
All company shareholders have the right to: Inspect company information, including the register of members (s. 116 Companies Act 2006) and a record of resolutions and minutes (s. 358) without any charge.
Who can see minutes of Meetings?
Simple Rule 1: A member of a group has a right to examine the minutes of that group. Plain and simple, Robert’s Rules says that the secretary of an organization has to (1) keep minutes and (2) make them available to members that ask for them.
The notice must give sufficient indication of the business of the meeting, so that a shareholder can decide whether to attend or not. … The notice must also tell shareholders that they can appoint a proxy to attend and vote in their place.
As a shareholder you have the right to have your name properly inserted in the company’s register of members. You also have the right to inspect and obtain copies of various company documents, records and registers: Provided reasonable notice has been given: Members can inspect these documents free of charge.
The main documents of interest to shareholders will be the company’s annual report and accounts. … However, it’s worth noting that shareholders have no right to receive most other documents – so, for example, they cannot usually demand to see copies of the management accounts prepared for the directors.
Which item Cannot be passed by circulation?
However, other business that requires urgent decisions can be approved by means of Resolutions passed by circulation. Resolutions passed by circulation are deemed to be passed at a duly convened Meeting of the Board and have equal authority. LIST OF RESOLUTION CAN’T BE PASSED BY CIRCULATION: S.
Can a company secretary call a meeting?
Often (including for start-ups and SMEs with the default model articles of association) the articles say that any director can call a board meeting at any time, or instruct any company secretary to call one.
Is it mandatory for company secretary to attend board meeting?
Any Director, including an Independent Director, of the company may, at any time, summon a Meeting of the Board unless otherwise provided in the Articles. … The Company Secretary or in his absence, any other person authorised by the Board, should then proceed to convene the Meeting.
Should names be mentioned in minutes?
The minutes should include the title of the group that is meeting; the date, time, and venue; the names of those in attendance (including staff) and the person recording the minutes; and the agenda. … Generally, don’t include names.
Should meeting minutes be public?
While it may appear to be more transparent to just put the minutes out there, there is no legal obligation to do so. … There are times when the board should not be completely transparent as it may violate terms of trust between the board and its obligations to the membership.
What are the legal requirements for formal minutes?
Minutes are legal documents that serve as a proof for future references regarding any discussions made in a meeting. The minutes should contain the title, time, date, place of meeting, names of attendees, apologies, visitors, items, actions required and date for next meeting.
Shareholders are not asked to approve the accounts – they are merely provided with a copy – although they can ask questions on matters in the accounts. There may be additional matters that require a vote and the notice calling the meeting should tell you this.
Companies are owned by their shareholders but are run by their directors. … However, shareholders do have some power over the directors although, to exercise this power, shareholders with more that 50% of the voting powers must vote in favour of taking such action at a general meeting.
Shareholder(s) with at least 5% of the voting capital can require the directors to call a general meeting of the shareholders to consider a resolution overruling the decision. … Shareholders can take legal action if they feel the directors are acting improperly.