Part 13 U.K.Resolutions and meetings

Modifications etc. (not altering text)

Chapter 4U.K.Public companies [F1and traded companies]: additional requirements for AGMs

Textual Amendments

F1Words in Pt. 13 Ch. 4 heading inserted (3.8.2009) by The Companies (Shareholders' Rights) Regulations 2009 (S.I. 2009/1632), reg. 15(5) (with application as stated in reg. 1(2))

[F2338ATraded companies: members' power to include other matters in business dealt with at AGMU.K.

(1)The members of a traded company may request the company to include in the business to be dealt with at an annual general meeting any matter (other than a proposed resolution) which may properly be included in the business.

(2)A matter may properly be included in the business at an annual general meeting unless –

(a)it is defamatory of any person, or

(b)it is frivolous or vexatious.

(3)A company is required to include such a matter once it has received requests that it do so from—

(a)members representing at least 5% of the total voting rights of all the members who have a right to vote at the meeting, or

(b)at least 100 members who have a right to vote at the meeting 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).

(4)A request—

(a)may be in hard copy form or in electronic form,

(b)must identify the matter to be included in the business,

(c)must be accompanied by a statement setting out the grounds for the request, and

(d)must be authenticated by the person or persons making it.

(5)A request must be received by the company not later than—

(a)6 weeks before the meeting, or

(b)if later, the time at which notice is given of the meeting.]

Textual Amendments