Aircraft and Shipbuilding Industries Act 1977 (repealed)

6 (1) A stockholders’ representative may at any time call a meeting of holders of securities, and shall call such a meeting within 21 days of the service on him of such a requisition as is mentioned in this paragraph. U.K.

(2) A stockholders’ representative may at any time call a meeting of such class or classes of holders of securities as are exclusively affected by any matter dealt with by him in the performance of his duties, so, however, that the business of any such meeting shall be confined to matters affecting exclusively the class or classes summoned to that meeting.

(3) A requisition to a stockholders’ representative to call a meeting of holders of securities may be made by holders of securities representing not less than—

(a) one-tenth of the aggregate nominal value of the securities of the company in respect of which compensation is payable under this Act; or

(b) one-fifth of the aggregate nominal value of any class of such securities;

and every requisition shall state the purpose of the meeting and shall be signed by the requisitionists and deposited with the stockholders’ representative, and may consist of several documents in like form each signed by one or more of the requisitionists.

(4) If, in a case falling within sub-paragraph (3) above, the stockholders’ representative does not within 21 days after the deposit of the requisition proceed duly to call the meeting, the requisitionists, or any of them representing not less than one-twentieth of the aggregate nominal value of the securities referred to in that sub-paragraph or, as the case may be, one-tenth of the aggregate nominal value of the class of securities referred to in that sub-paragraph, may themselves call the meeting.

(5) Any expenses reasonably incurred by the requisitionists in calling a meeting under sub-paragraph (4) above shall be repaid to them by the stockholders’ representative and shall, except to the extent of any excess over the expenses which would have been incurred by the stockholders’ representative if the meeting had been called by him, be deemed to be expenses incurred by him in the exercise of his functions.