Business Law and Practice Notes on the blog today! When deciding whether the decision is to be made by a director or shareholder, we need to check the Companies Act 2006 and the Articles of Association of the company.
Below is a useful chart I created when deciding what the procedure is, board meeting (BM) or general meeting (GM). At times, directors will need to pass a board resolution (BR) to call a GM for the shareholders to make the decision. Shareholders will pass either ordinary resolution or special resolution and depending on decision, a second BM may need to be held.
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