(1)A company may be required to exercise its powers under section 212 on the requisition of members of the company holding at the date of the deposit of the requisition not less than one-tenth of such of the paid-up capital of the company as carries at that date the right of voting at general meetings of the company.
(2)The requisition must—
(a)state that the requisitionists are requiring the company to exercise its powers under section 212,
(b)specify the manner in which they require those powers to be exercised, and
(c)give reasonable grounds for requiring the company to exercise those powers in the manner specified,
and must be signed by the requisitionists and deposited at the company’s registered office.
(3)The requisition may consist of several documents in like form each signed by one or more requisitionists.
(4)On the deposit of a requisition complying with this section it is the company’s duty to exercise its powers under section 212 in the manner specified in the requisition.
(5)If default is made in complying with subsection (4), the company and every officer of it who is in default is liable to a fine.