C1Part 13Resolutions and meetings
Chapter 3Resolutions at meetings
Members' statements
I1314Members' power to require circulation of statements
1
The members of a company may require the company to circulate, to members of the company entitled to receive notice of a general meeting, a statement of not more than 1,000 words with respect to—
a
a matter referred to in a proposed resolution to be dealt with at that meeting, or
b
other business to be dealt with at that meeting.
2
A company is required to circulate a statement once it has received requests to do so from—
a
members representing at least 5% of the total voting rights of all the members who have a relevant right to vote (excluding any voting rights attached to any shares in the company held as treasury shares), or
b
at least 100 members who have a relevant right to vote and hold shares in the company on which there has been paid up an average sum, per member, of at least £100.
See also section 153 (exercise of rights where shares held on behalf of others).
3
In subsection (2), a “relevant right to vote” means—
a
in relation to a statement with respect to a matter referred to in a proposed resolution, a right to vote on that resolution at the meeting to which the requests relate, and
b
in relation to any other statement, a right to vote at the meeting to which the requests relate.
4
A request—
a
may be in hard copy form or in electronic form,
b
must identify the statement to be circulated,
c
must be authenticated by the person or persons making it, and
d
must be received by the company at least one week before the meeting to which it relates.
Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2