Company Meetings and Resolutions

BCL – Nov 2024 – L1 – Q5a – Annual General Meeting (AGM) Requirements

Legal requirements for holding an AGM and consequences of non-compliance.

Question

Yaw Perbi, the CEO of your company, is preparing for a top management meeting scheduled for 1 December 2023. One of the issues to be discussed is the mode of holding the next shareholders’ meeting. There are views that the Annual General Meeting (AGM) must be in-person so that members can vote on resolutions to be passed. Others believe that the AGM should be virtual or hybrid. Some shareholders believe that the items on the agenda are too many and that they would need two days to have a meaningful discussion. Kwasi Mensa, a shareholder, has decided not to attend the AGM if it is organised virtually.

Required:

a) Explain the following to your boss:

i) The requirement of the Companies Act, 2019 (Act 992) on the interval between which AGMs are to be held.

ii) THREE things that should be covered in the notice for an AGM.

iii) TWO consequences of not holding an AGM in accordance with the Companies Act.

iv) Justify whether or not decisions taken at the AGM will be binding on Kwasi Mensa.

Answer

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Tags: AGM, Companies Act, Corporate Governance, Meeting Notice, Shareholder Rights
Level: Level 1

Topic: Company Meetings and Resolutions
Series: Nov 2024

BCL – Apr 2022 – L1 – Q5c – Company meetings and resolutions

Distinguish between Annual General Meeting and Extraordinary General Meeting of a company, detailing requirements and procedures for each.

Question

c) Distinguish between Annual General Meeting and Extraordinary General Meeting of a company.

(5 marks)

Answer

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Tags: Annual General Meeting, Companies Act 2019, Extraordinary General Meeting
Level: Level 1

Topic: Company Meetings and Resolutions
Series: APR 2022

BCL – Nov 2020 – L1 – Q3a – Company Meetings and Resolutions

Identify processes required to vary the class rights of shareholders without court sanction.

Question

Identify TWO (2) processes required to vary the class rights of shareholders without the sanction of the Court. (4 marks)

Answer

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Tags: Class Rights, Company Law, Shareholders, Special Resolution
Level: Level 1

Topic: Company Meetings and Resolutions
Series: NOV 2020

BCL – May 2020 – L2 – Q5b – Company Meetings and Resolutions

List four transactions for which directors of limited liability companies require ordinary resolution approval.

Question

State FOUR (4) transactions for which Directors of Limited Liability Companies require an Ordinary Resolution approval.
(16 marks)

Answer

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Tags: Company Law, Directors' Powers, Ordinary Resolution, Transactions Requiring Approval
Level: Level 1

Topic: Company Meetings and Resolutions
Series: MAY 2020

BCL – May 2020 – L2 – Q5a – Company Meetings and Resolutions

Distinguish between an ordinary resolution and a special resolution.

Question

Distinguish between an Ordinary Resolution and a Special Resolution.
(4 marks)

Answer

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Tags: Company Law, Ordinary Resolution, Special Resolution, Voting Requirements
Level: Level 1

Topic: Company Meetings and Resolutions
Series: MAY 2020

BCL – May 2020 – L2 – Q3a – Company Meetings and Resolutions

Explain what constitutes the ordinary business of an AGM and the procedure for private liquidation.

Question

On 26th February 2018, Gold Link Limited, a public limited liability company trading on the Ghana Stock Exchange sent a notice to its shareholders inviting them to an Annual General Meeting (AGM) on 2nd March 2019. The notice simply states that the ‘purpose is to transact the ordinary business’. Namoale is a shareholder of Gold Link Limited and is very disturbed about the vagueness of the notice. He is also not satisfied with the performance of the company and is seeking to requisition for a special resolution to liquidate the company.

Required:

i) Explain to Namoale, what constitutes ‘the ordinary business of an annual general meeting’ and state TWO (2) other information, Namoale must see in the notice for an AGM.
(5 marks)

ii) Advise Namoale on the procedure for private liquidation.
(5 marks)

Answer

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Tags: Annual General Meeting, Liquidation, Notice Requirements, Ordinary Business, Special Resolution
Level: Level 1

Topic: Company Meetings and Resolutions
Series: MAY 2020

BCL – Nov 2018 – L1 – Q6b – Company Meetings and Resolutions

Provide clarification on the terms "Annual General Meeting" and "Annual Returns" as used in company meetings.

Question

You have just completed level one of the ICAG Professional Examination and have been engaged by AB Daniels Ltd as an Administrative Assistant. The minutes of the previous meeting, a revised regulation, as well as notice for the next annual general meeting to be held on Tuesday 11th December 2018 had been distributed. A Board Member who recommended your appointment has called you to assist him to clarify certain terms in the meeting documents circulated.

Required:
Write short notes on the following:

i) Annual General Meeting (6 marks)
ii) Annual Returns (5 marks)

Answer

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Tags: AGM, Annual General Meeting, Annual Returns, Company Law, Corporate Compliance
Level: Level 1

Topic: Company Meetings and Resolutions
Series: NOV 2018

BCL – May 2018 – L1 – Q7b – Company Meetings and Resolutions

Define a special resolution under the Companies Act.

Question

Define special resolution. (4 marks)

Answer

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Tags: Company Law, Resolutions, Special Resolution
Level: Level 1

Topic: Company Meetings and Resolutions
Series: MAY 2018

BCL – Nov 2023 – L1 – Q3c – Company Meetings and Resolutions

State circumstances under which the appointment of a proxy is terminated.

Question

c) A member of a company entitled to attend and vote at a meeting of a company may appoint another person as a proxy to attend and vote on the member’s behalf, and the proxy shall have the same rights as the member.

Required: State FOUR (4) circumstances under which the appointment of a proxy is terminated. (5 marks)

Answer

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Tags: Company Law, Meetings, Proxy, Termination of Appointment
Level: Level 1

Topic: Company Meetings and Resolutions
Series: NOV 2023

BCL – Nov 2024 – L1 – Q5a – Annual General Meeting (AGM) Requirements

Legal requirements for holding an AGM and consequences of non-compliance.

Question

Required:

a) Explain the following to your boss:

i) The requirement of the Companies Act, 2019 (Act 992) on the interval between which AGMs are to be held.

ii) THREE things that should be covered in the notice for an AGM.

iii) TWO consequences of not holding an AGM in accordance with the Companies Act.

iv) Justify whether or not decisions taken at the AGM will be binding on Kwasi Mensa.

Answer

Find Related Questions by Tags, levels, etc.

Tags: AGM, Companies Act, Corporate Governance, Meeting Notice, Shareholder Rights
Level: Level 1

Topic: Company Meetings and Resolutions
Series: Nov 2024

BCL – Apr 2022 – L1 – Q5c – Company meetings and resolutions

Distinguish between Annual General Meeting and Extraordinary General Meeting of a company, detailing requirements and procedures for each.

Question

c) Distinguish between Annual General Meeting and Extraordinary General Meeting of a company.

(5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Annual General Meeting, Companies Act 2019, Extraordinary General Meeting
Level: Level 1

Topic: Company Meetings and Resolutions
Series: APR 2022

BCL – Nov 2020 – L1 – Q3a – Company Meetings and Resolutions

Identify processes required to vary the class rights of shareholders without court sanction.

Question

Identify TWO (2) processes required to vary the class rights of shareholders without the sanction of the Court. (4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Class Rights, Company Law, Shareholders, Special Resolution
Level: Level 1

Topic: Company Meetings and Resolutions
Series: NOV 2020

BCL – May 2020 – L2 – Q5b – Company Meetings and Resolutions

List four transactions for which directors of limited liability companies require ordinary resolution approval.

Question

State FOUR (4) transactions for which Directors of Limited Liability Companies require an Ordinary Resolution approval.
(16 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Directors' Powers, Ordinary Resolution, Transactions Requiring Approval
Level: Level 1

Topic: Company Meetings and Resolutions
Series: MAY 2020

BCL – May 2020 – L2 – Q5a – Company Meetings and Resolutions

Distinguish between an ordinary resolution and a special resolution.

Question

Distinguish between an Ordinary Resolution and a Special Resolution.
(4 marks)

Answer

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Tags: Company Law, Ordinary Resolution, Special Resolution, Voting Requirements
Level: Level 1

Topic: Company Meetings and Resolutions
Series: MAY 2020

BCL – May 2020 – L2 – Q3a – Company Meetings and Resolutions

Explain what constitutes the ordinary business of an AGM and the procedure for private liquidation.

Question

Required:

i) Explain to Namoale, what constitutes ‘the ordinary business of an annual general meeting’ and state TWO (2) other information, Namoale must see in the notice for an AGM.
(5 marks)

ii) Advise Namoale on the procedure for private liquidation.
(5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Annual General Meeting, Liquidation, Notice Requirements, Ordinary Business, Special Resolution
Level: Level 1

Topic: Company Meetings and Resolutions
Series: MAY 2020

BCL – Nov 2018 – L1 – Q6b – Company Meetings and Resolutions

Provide clarification on the terms "Annual General Meeting" and "Annual Returns" as used in company meetings.

Question

Required:
Write short notes on the following:

i) Annual General Meeting (6 marks)
ii) Annual Returns (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: AGM, Annual General Meeting, Annual Returns, Company Law, Corporate Compliance
Level: Level 1

Topic: Company Meetings and Resolutions
Series: NOV 2018

BCL – May 2018 – L1 – Q7b – Company Meetings and Resolutions

Define a special resolution under the Companies Act.

Question

Define special resolution. (4 marks)

Answer

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Tags: Company Law, Resolutions, Special Resolution
Level: Level 1

Topic: Company Meetings and Resolutions
Series: MAY 2018

BCL – Nov 2023 – L1 – Q3c – Company Meetings and Resolutions

State circumstances under which the appointment of a proxy is terminated.

Question

Required: State FOUR (4) circumstances under which the appointment of a proxy is terminated. (5 marks)

Answer

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Tags: Company Law, Meetings, Proxy, Termination of Appointment
Level: Level 1

Topic: Company Meetings and Resolutions
Series: NOV 2023

Topic: Company Meetings and Resolutions

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BCL – Nov 2024 – L1 – Q5a – Annual General Meeting (AGM) Requirements

Legal requirements for holding an AGM and consequences of non-compliance.

You're reporting an error for "BCL – Nov 2024 – L1 – Q5a – Annual General Meeting (AGM) Requirements"

BCL – Apr 2022 – L1 – Q5c – Company meetings and resolutions

Distinguish between Annual General Meeting and Extraordinary General Meeting of a company, detailing requirements and procedures for each.

You're reporting an error for "BCL – Apr 2022 – L1 – Q5c – Company meetings and resolutions"

BCL – Nov 2020 – L1 – Q3a – Company Meetings and Resolutions

Identify processes required to vary the class rights of shareholders without court sanction.

You're reporting an error for "BCL – Nov 2020 – L1 – Q3a – Company Meetings and Resolutions"

BCL – May 2020 – L2 – Q5b – Company Meetings and Resolutions

List four transactions for which directors of limited liability companies require ordinary resolution approval.

You're reporting an error for "BCL – May 2020 – L2 – Q5b – Company Meetings and Resolutions"

BCL – May 2020 – L2 – Q5a – Company Meetings and Resolutions

Distinguish between an ordinary resolution and a special resolution.

You're reporting an error for "BCL – May 2020 – L2 – Q5a – Company Meetings and Resolutions"

BCL – May 2020 – L2 – Q3a – Company Meetings and Resolutions

Explain what constitutes the ordinary business of an AGM and the procedure for private liquidation.

You're reporting an error for "BCL – May 2020 – L2 – Q3a – Company Meetings and Resolutions"

BCL – Nov 2018 – L1 – Q6b – Company Meetings and Resolutions

Provide clarification on the terms "Annual General Meeting" and "Annual Returns" as used in company meetings.

You're reporting an error for "BCL – Nov 2018 – L1 – Q6b – Company Meetings and Resolutions"

BCL – May 2018 – L1 – Q7b – Company Meetings and Resolutions

Define a special resolution under the Companies Act.

You're reporting an error for "BCL – May 2018 – L1 – Q7b – Company Meetings and Resolutions"

BCL – Nov 2023 – L1 – Q3c – Company Meetings and Resolutions

State circumstances under which the appointment of a proxy is terminated.

You're reporting an error for "BCL – Nov 2023 – L1 – Q3c – Company Meetings and Resolutions"

BCL – Nov 2024 – L1 – Q5a – Annual General Meeting (AGM) Requirements

Legal requirements for holding an AGM and consequences of non-compliance.

You're reporting an error for "BCL – Nov 2024 – L1 – Q5a – Annual General Meeting (AGM) Requirements"

BCL – Apr 2022 – L1 – Q5c – Company meetings and resolutions

Distinguish between Annual General Meeting and Extraordinary General Meeting of a company, detailing requirements and procedures for each.

You're reporting an error for "BCL – Apr 2022 – L1 – Q5c – Company meetings and resolutions"

BCL – Nov 2020 – L1 – Q3a – Company Meetings and Resolutions

Identify processes required to vary the class rights of shareholders without court sanction.

You're reporting an error for "BCL – Nov 2020 – L1 – Q3a – Company Meetings and Resolutions"

BCL – May 2020 – L2 – Q5b – Company Meetings and Resolutions

List four transactions for which directors of limited liability companies require ordinary resolution approval.

You're reporting an error for "BCL – May 2020 – L2 – Q5b – Company Meetings and Resolutions"

BCL – May 2020 – L2 – Q5a – Company Meetings and Resolutions

Distinguish between an ordinary resolution and a special resolution.

You're reporting an error for "BCL – May 2020 – L2 – Q5a – Company Meetings and Resolutions"

BCL – May 2020 – L2 – Q3a – Company Meetings and Resolutions

Explain what constitutes the ordinary business of an AGM and the procedure for private liquidation.

You're reporting an error for "BCL – May 2020 – L2 – Q3a – Company Meetings and Resolutions"

BCL – Nov 2018 – L1 – Q6b – Company Meetings and Resolutions

Provide clarification on the terms "Annual General Meeting" and "Annual Returns" as used in company meetings.

You're reporting an error for "BCL – Nov 2018 – L1 – Q6b – Company Meetings and Resolutions"

BCL – May 2018 – L1 – Q7b – Company Meetings and Resolutions

Define a special resolution under the Companies Act.

You're reporting an error for "BCL – May 2018 – L1 – Q7b – Company Meetings and Resolutions"

BCL – Nov 2023 – L1 – Q3c – Company Meetings and Resolutions

State circumstances under which the appointment of a proxy is terminated.

You're reporting an error for "BCL – Nov 2023 – L1 – Q3c – Company Meetings and Resolutions"

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