i. GENERAL FRAMEWORK
# BM1 Statute
1 Who calls - any director - either X/Y MA 9(1)
2 Notice - reasonable notice according to what’s usual for the company Browne v La Trinidad
3 Quorum -state who is present (can vote) & in attendance, then conclude if quorum met
• At least 2 - directors X/Y must be present MA 11(2)
• If company with 1 director, quorum = 1 MA 7(2)
4 Agenda - report on XYZ/propose board resolutions to ABC
5 Call GM s.302
Approve form of GM notice including
• Time, date, location of meeting s.311
• Precise wording of SR s.283(6)
• Statement that a member may appoint a proxy s.325(1)
• Note good practice to also set out precise wording of OR
6 Direct Sec to give GM notice
• In accordance with 308 to
• SH s.310(1)(a)
• Directors s.310(1)(b)
• Co. auditors s.502(2)
7 Voting
• Majority/unanimous decision MA 7(1) & 8
• If deadlock, chairman MA 13
8 Adjourn/close BM (adjourn if BM reopening in <24h)
# GM Statute
1 Open GM
2 Notice - generally 14 clear days - don’t include day on which notice given & GM day s.307(1) & 360
• but may call on short notice, if ….
1) Majority in no. of eligible voters consent 307(5)
2) Together hold at least 90% company’s voting rights
• State who needs consent etc & if likely be met
3 Quorum
• If 1SH co. = 1, but otherwise 2 s.318(1)/(2)
• See copy of BM of X authorising Y act as corporate rep s.323
4 Agenda - propose any OR/SRs
5 Voting - state who will vote in favour & likely outcome
• SR = not less than 75% s.283(1)
• Simple majority = over 50%
• Vote = show of hands unless poll demanded MA 42
6 Close GM (never adjourn coz won’t be reconvened)
# BM2 Statute
1 Reconvene/open BM
2 Agenda - report on any resolutions passed & propose BRs
3 Close BM
# PMM Statute
1 File @ CH
2 Draw up minutes - keep for at least 10y s.248(1)/355(1)
,ii. AMENDMENTS TO GENERAL STRUCTURE
a) Converting a shelf company
# BM1 Agenda Statute
4 Appointment of directors MA 17(1)(b)
5 Resignation of directors & company sec with immediate effect MA 18(f)
6 Appointment of company sec Art 3 MA (gen)
7 Appointment of chairman Art 12(1) MA
8 Receive & approve transfer of subscriber shares to new co. s.771 & MA 26
9 Instruct company sec to enter new SH (x) in register of members immediately s.112(2), 113(3)
10 Add statement in reg of members that company has only 1 member (if need) s.123(2)
11 Update PSC register s.790M
12 Issue new share certificates to Y & cancel old ones s.776
13 Approve consent to short notice if required s.307(4-6)
# GM Agenda Statute
3 Change name s.77
4 Amend AoA e.g to remove a MA s.21
# BM2 Agenda: BR to Statute
3 Report on passage of SR
4 Change of reg office s.87(1)
5 Change co. accounting ref name s.392(1)
6 Appoint X as audtor s.485(2)
7 Authorise any Dr execute loan agreement on behalf of co
# PMM Statute
1 Direct Company sec to….
• Draw BM & GM minutes • s.248(1)/355(1)
• Amend Reg of Directors • s.162(2)
• Amend Reg of Sec • s.275(2)
• Cancel old share certificates & issue new ones • s.776(1)
2A If short notice not used, 3 further filings
• NM01 + copy of SR - name change & fee • s.30(1)
• AA01 - ARD
• AD01 - address
2B If short notice used, 8 filings:
• AP01 - directors • s.167(1)
• AP03 - sec • s.267(1)
• AA01 - ARD
• AD01 - address • s.87(1)
• NM01 & copy of SR - name change & fee - 15d • s.78/30
• TM01 - resig of Ds
• TM02 - resig of co. sec
• Copy of amended articles - 15d • s.26(1)
3 When CH returns certificate of name change, change stationery & signs outside registered office • s.82 CA
, b) Amending articles
# BM1 Agenda Statute
- Report on adoption of new AoA
# GM Agenda Statute
- Propose SR to approve change e.g to name • s.21(1)
# BM2 Agenda Statute
- Report on SR passed at GM
# PMM Statute
- File at CH
• Copy of amended AoA - 15d • s.26(1)
• Copy of SR - 15d • s.30(1)
c) Approving SPT/long-term service contracts
# BM1 Statute
1 Disclosure:
• X discloses interest in proposed SPT • s.177
• Anyone related to also disclose (indirect interest)
• For LTSC, x legally obliged disclose but good practice • s.177(6)©
2 Closing BM
• If only approving SPT, no 15d inspection rule
• Don’t adjourn bc 15d inspection rule for LTSC
# GM Statute
1 Proposed LTSC on display at co. registered office at least 15d before GM (render SN futile) • s.188(5)
# BM2 Statute
1 Quorum - interested director can’t count towards quorum • MA 14(1)
2 Agenda:
a) Report on OR @ GM
b) Propose BRs to:
• Approve entry into/authorise signatory for SPT with X
• Approve entry into/authorise signatory for LTSC
• Direct CS deal with PMMs
3 Voting -
• Interest D can’t vote • MA 14(1)
• Exception: OR to disapply MA - may vote IF declares interest • MA 14(3)(a)
# PMM Statute
Keep copy of Dr service contracts available for inspection @ company registered office • s.228(2)
# BM1 Statute
1 Who calls - any director - either X/Y MA 9(1)
2 Notice - reasonable notice according to what’s usual for the company Browne v La Trinidad
3 Quorum -state who is present (can vote) & in attendance, then conclude if quorum met
• At least 2 - directors X/Y must be present MA 11(2)
• If company with 1 director, quorum = 1 MA 7(2)
4 Agenda - report on XYZ/propose board resolutions to ABC
5 Call GM s.302
Approve form of GM notice including
• Time, date, location of meeting s.311
• Precise wording of SR s.283(6)
• Statement that a member may appoint a proxy s.325(1)
• Note good practice to also set out precise wording of OR
6 Direct Sec to give GM notice
• In accordance with 308 to
• SH s.310(1)(a)
• Directors s.310(1)(b)
• Co. auditors s.502(2)
7 Voting
• Majority/unanimous decision MA 7(1) & 8
• If deadlock, chairman MA 13
8 Adjourn/close BM (adjourn if BM reopening in <24h)
# GM Statute
1 Open GM
2 Notice - generally 14 clear days - don’t include day on which notice given & GM day s.307(1) & 360
• but may call on short notice, if ….
1) Majority in no. of eligible voters consent 307(5)
2) Together hold at least 90% company’s voting rights
• State who needs consent etc & if likely be met
3 Quorum
• If 1SH co. = 1, but otherwise 2 s.318(1)/(2)
• See copy of BM of X authorising Y act as corporate rep s.323
4 Agenda - propose any OR/SRs
5 Voting - state who will vote in favour & likely outcome
• SR = not less than 75% s.283(1)
• Simple majority = over 50%
• Vote = show of hands unless poll demanded MA 42
6 Close GM (never adjourn coz won’t be reconvened)
# BM2 Statute
1 Reconvene/open BM
2 Agenda - report on any resolutions passed & propose BRs
3 Close BM
# PMM Statute
1 File @ CH
2 Draw up minutes - keep for at least 10y s.248(1)/355(1)
,ii. AMENDMENTS TO GENERAL STRUCTURE
a) Converting a shelf company
# BM1 Agenda Statute
4 Appointment of directors MA 17(1)(b)
5 Resignation of directors & company sec with immediate effect MA 18(f)
6 Appointment of company sec Art 3 MA (gen)
7 Appointment of chairman Art 12(1) MA
8 Receive & approve transfer of subscriber shares to new co. s.771 & MA 26
9 Instruct company sec to enter new SH (x) in register of members immediately s.112(2), 113(3)
10 Add statement in reg of members that company has only 1 member (if need) s.123(2)
11 Update PSC register s.790M
12 Issue new share certificates to Y & cancel old ones s.776
13 Approve consent to short notice if required s.307(4-6)
# GM Agenda Statute
3 Change name s.77
4 Amend AoA e.g to remove a MA s.21
# BM2 Agenda: BR to Statute
3 Report on passage of SR
4 Change of reg office s.87(1)
5 Change co. accounting ref name s.392(1)
6 Appoint X as audtor s.485(2)
7 Authorise any Dr execute loan agreement on behalf of co
# PMM Statute
1 Direct Company sec to….
• Draw BM & GM minutes • s.248(1)/355(1)
• Amend Reg of Directors • s.162(2)
• Amend Reg of Sec • s.275(2)
• Cancel old share certificates & issue new ones • s.776(1)
2A If short notice not used, 3 further filings
• NM01 + copy of SR - name change & fee • s.30(1)
• AA01 - ARD
• AD01 - address
2B If short notice used, 8 filings:
• AP01 - directors • s.167(1)
• AP03 - sec • s.267(1)
• AA01 - ARD
• AD01 - address • s.87(1)
• NM01 & copy of SR - name change & fee - 15d • s.78/30
• TM01 - resig of Ds
• TM02 - resig of co. sec
• Copy of amended articles - 15d • s.26(1)
3 When CH returns certificate of name change, change stationery & signs outside registered office • s.82 CA
, b) Amending articles
# BM1 Agenda Statute
- Report on adoption of new AoA
# GM Agenda Statute
- Propose SR to approve change e.g to name • s.21(1)
# BM2 Agenda Statute
- Report on SR passed at GM
# PMM Statute
- File at CH
• Copy of amended AoA - 15d • s.26(1)
• Copy of SR - 15d • s.30(1)
c) Approving SPT/long-term service contracts
# BM1 Statute
1 Disclosure:
• X discloses interest in proposed SPT • s.177
• Anyone related to also disclose (indirect interest)
• For LTSC, x legally obliged disclose but good practice • s.177(6)©
2 Closing BM
• If only approving SPT, no 15d inspection rule
• Don’t adjourn bc 15d inspection rule for LTSC
# GM Statute
1 Proposed LTSC on display at co. registered office at least 15d before GM (render SN futile) • s.188(5)
# BM2 Statute
1 Quorum - interested director can’t count towards quorum • MA 14(1)
2 Agenda:
a) Report on OR @ GM
b) Propose BRs to:
• Approve entry into/authorise signatory for SPT with X
• Approve entry into/authorise signatory for LTSC
• Direct CS deal with PMMs
3 Voting -
• Interest D can’t vote • MA 14(1)
• Exception: OR to disapply MA - may vote IF declares interest • MA 14(3)(a)
# PMM Statute
Keep copy of Dr service contracts available for inspection @ company registered office • s.228(2)
