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Definition
of "Extra- ordinary"
Resolution.
Definition
of "Special" Resolution.
Notice of Meeting.
Two meet- ings conven- ed by one notice,
General Business at General
Meeting.
Special
business.
Quorum.
Chairman
of Meeting.
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(c) If at any such meeting a resolution requiring confirmation at another meeting is passed, the Board shall forthwith convene a further extraordinary general meeting for the purpose of con- sidering the resolution, and if thought fit, of confirming it as a special resolution, and if the Board do not convene the meeting within seven days from the date of the passing of the first resolution, the requisitionists or a majority of them in value may themselves convene the meeting.
(d) Any meeting convened under this regulation by the requisi- tionists as aforesaid shall be convened in the same manner, as nearly as possible, as that in which meetings are to be convened by the Board.
60. A resolution shall be an extraordinary resolution when it has been passed by a majority of not less than three-fourths of such shareholders entitled to vote as are present in person or by proxy at a general meeting of which notice specifying the intention to propose the resolution as an extraordinary resolution has been duly given.
61. A Resolution shall be a special resolution when it has been--
(a) passed in manner required for the passing of an extraordinary
resolution; and
(b) confirmed by a majority of such shareholders entitled to vote as are present in person or by proxy at a subsequent general meet- ing, of which notice has been duly given, and held after an interval of not less than fourteen days, nor more than one month, from the date of the first meeting.
62. Ten days notice (except for an adjourned meeting as provided for in regulations 67 and 68) to the shareholders of every meeting specify- ing the place, day and hour of meeting, and, in case of special business, specifying also the general nature of such business, shall be given by ad- vertisement in one or more daily newspapers printed and circulating in the Colony.
63. When it is proposed to pas a special resolution, the two meet- ings may be convened by one and the same notice, and it is to be no objec- tion to such notice that it only convened the second meeting contingently on the resolution being passed by the requisite majority at the first meeting.
64. The business of an ordinary yearly general meeting shall be to receive and consider the profit and loss account, the balance sheet, and the reports of the Directors and of the auditors, to elect Directors, in the place of those retiring by rotation or otherwise, and auditors, to sanction divid- ends, and to transact any other business which under these regulations ought to be transacted at an ordinary yearly general meeting. All other business transacted at an ordinary yearly general meeting and all business transacted at any extraordinary general meeting shall be deemed special.
65. Thirty shareholders personally present shall be a quorum for the purpose of transacting all the ordinary business of an ordinary yearly general meeting as mentioned in regulation 64 and also for the purpose of transacting special business at an ordinary yearly general meeting and at all extraordinary general meetings of the Bank. No business shall be trans- acted at any general meeting unless the requisite quorum shall be present at the commencement of the business.
66. (1) The Chairman of the Board, or in his absence the Deputy Chairman of the Board, shall take the chair at every general meeting or if there be no such Chairman or Deputy Chairman, or if at any general meet- ing the Chairman or Deputy Chairman shall not be present within fifteen minutes after the time appointed for holding such meeting, the shareholders
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present shall choose another Director as Chairman, and if no Director be present, or if all the Directors present decline to take the chair, or if the Chairman chosen shall retire from the chair, then the shareholders present in person and entitled to vote shall choose one of their own number to be Chairman.
(2) While the chair is vacant, no business shall be transacted or dis- cussed at any general meeting, save the appointment of a Chairman or the adjournment of the meeting.
present,
67. If within half an hour from the time appointed for the meeting a
When, if quorum is not present, the meeting, if convened by or upon any such requi- qoram not sition as aforesaid, shall be dissolved; but in any other case it shall stand Meeting to adjourned to such day and at such time and place as shall be decided by be dissolved the Chairman, and if at such adjourned meeting a quorum be not present, to be those shareholders who are present shall be a quorum and may transact the adjourned. business for which the meeting was called.
and when
Power to
chairman to adjourn
68. Subject to the provisions of Regulation 67 the Chairman of a general meeting may, with the consent of the meeting, adjourn the same from time to time and from place to place; but no business shall be trans- Meeting. acted at any adjourned meeting other than the business left unfinished at the meeting from which the adjournment took place.
69. Every question submitted to a meeting shall be decided in the first instance by a show of hands of the shareholders present in person and en- titled to vote. In case of an equality of votes the Chairman shall, both on a show of hands and at the poll, have a second or casting vote in addi- tion to the vote or votes to which he may be entitled as a shareholder.
70. At any general meeting, unless a poll is demanded by at least one fifth in number of the shareholders personally present and entitled to vote, a declaration by the Chairman that à resolution has been carried or carried by a particular majority, or lost, or not carried by a particular majority shall he conclusive evidence of the fact without proof of the number or propor- tion of the votes recorded in favour of or against such resolution.
Business at adjourned Meeting.
How ques-
tions to be decided at
Meeting.
Evidence of the passing of a resolu- tion where
poll not
demanded.
71. If a poll is demanded as aforesaid, it shall be taken in such man- Poll. ner and at such time and place as the Chairman of the meeting directs and either at once, or after an interval or adjournment, or otherwise, and the result of the poll shall be deemed to be the resolution of the meeting at which the poll was demanded. The demand for a poll may be withdrawn.
72. Any poll duly demanded on the election of a Chairman of a meet- In what ing or on any question of adjournment shall be taken at the meeting and without adjournment.
taken
cases Poll
without ad. journment.
ness may
73. The demand for a poll shall not prevent the continuance of a meet- Other busi- ing for the transaction of any business other than the question on which a poll has been demanded.
Votes of Shareholders.
proceed not- withstanding demand for poll.
74. On a show of hands every shareholder personally present, holding Number of five shares or more, shall have one vote. In case of a poll every shareholder votes of holding five shares shall have one vote for the first five shares and one vote holders. for every twenty shares over and above the first five shares.
share-
holders.
75. Where there are joint registered holders of any share, that one of Joint the said persons so present in person or by proxy, whose name stands first on the shareholders' registers in respect of such share, shall alone be entitled to vote in respect thereof either in person or by proxy. Several Executors or Administrators of a deceased shareholder in whose name any share stands shall for the purposes of this article be deemed joint holders thereof.
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