(b ) two or more members holding not less than one-tenth of the issued share capital may call a meeting;
(c) two members personally present at a meeting shall be a quorum;
(d ) any member elected by the members present at a meeting may be chairman thereof;
(e) every member shall have one vote in respect of each share or each twenty dollars of stock held by him.
(2 ) If for any reason it is impracticable to call a meeting of a company in any manner in which meetings of
that company may be called, or to conduct the meeting of the company in manner prescribed by the articles or this
Act, or if for any other reason the court sees fit, the court may, either of its own motion or on the application of
any director of the company or of any member of the company who would be entitled to vote at the meeting, order
a meeting of the company to be called, held and conducted in such manner as the court thinks fit, and where any
such order is made may give such ancillary or consequential directions as it thinks expedient, including a direction
that one member of the company present in person or by proxy shall be deemed to constitute a meeting.
(3 ) Any meeting called, held and conducted in accordance with an order under subsection (2) shall for all
purposes be deemed to be a meeting of the company duly called, held and conducted.
129 Proxies and voting on poll
(1 ) Any member of a company entitled to attend and vote at a meeting of the company shall be entitled to a ppoint one or more persons, whether members or not, to act in the alternative as his proxy to attend and vote instead of him, and a proxy appointed to attend and vote instead of a member shall also have the same right as the
member to speak at the meeting.
(2 ) The instrument appointing a proxy to vote at a meeting of a company shall be deemed also to confer authority to demand or join in demanding a poll.
(3 ) In every notice calling a meeting of a company and on the face of every proxy form issued at the company’s expense shall appear, with reasonable prominence, a statement that a member entitled to attend and vote is
entitled to appoint one or more proxies to act in the alternative, to attend and vote and speak instead of him, and
that a proxy need not also be a member; and if default is made in complying with this subsection as respects any
meeting every officer of the company who authorizes, knowingly permits or is party to the default shall be guilty
of an offence and liable to a fine not exceeding level two.
(4 ) Any provision contained in a company’s articles shall be void in so far as it would have the effect of
requiring the instrument appointing a proxy, or any other document necessary to show the validity of or otherwise
relating to the appointment of a proxy, to be received by the company or any other person more than forty-eight
h ours before a meeting in order that the appointment may be effective thereat.
(5 ) If, for the purpose of any meeting of a company, invitations to appoint as proxy a person or one of a
number of persons specified in the invitations are issued at the company’s expense to some only of the members
entitled to be sent a notice of the meeting and to vote thereat by proxy, every officer of the company who authorizes or knowingly permits or is a party to the issue as aforesaid shall be guilty of an offence and liable to a fine not
exceeding level three:
Provided that an officer shall not be liable under this subsection by reason only of the issue to a member at his
written request of a form of appointment naming the proxy or of a list of persons willing to act as proxy if the
form or list is available on request in writing to every member entitled to vote at the meeting by proxy.
(6 ) On a poll taken at a meeting of a company, a member entitled to more than one vote need not, if he votes,
use all his votes or cast all the votes he uses in the same way.
(7 ) This section shall apply to meetings of any class of members of a company as it applies to general meetings of the company.
[Section as amended by Act No. 22 of 2001]
130 Procedure for compulsory adjournment
(1 ) If, at any meeting of a company, any member of the company who is present and entitled to vote at that
meeting demands an adjournment of the meeting upon any grounds stated by him, the chairman shall put the
demand to the vote of the meeting, and if a majority of the members present personally or by proxy and entitled to
vote at the meeting or if such members representing either person ally or by proxy more than half of the share
capital of the company represented at the meeting vote in favour of an adjournment, the chairman shall adjourn
the meeting to a day seven days after the date of the meeting or, if that day is a public holiday, to the next succeeding day, other than a public holiday.
(2 ) When a meeting has been adjourned as aforesaid the secretary of the company shall, upon a date not later
than four days after the adjournment, publish in a newspaper circulating in the district where the registered office
of the company is situated, a notice stating—
(a ) the time and place to which the meeting was adjourned; and
(b ) the matter before the meeting at the time when it was adjourned; and
(c) the ground for adjournment.
This subsection shall not apply to a private company.
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