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Previous Lecture Types of Shares Types of Meetings Termination of Memberships.

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Presentation on theme: "Previous Lecture Types of Shares Types of Meetings Termination of Memberships."— Presentation transcript:

1 Previous Lecture Types of Shares Types of Meetings Termination of Memberships

2 Company Law - 6 Lecture # 30

3 Types of Meeting Meaning-All 3 types Notice-21 days Report-SECP Certificate-3 directors

4 Types of Meeting List of Members-Present members Procedure-Any matter Adjournment-By members

5 Types of Meeting Resolution-Only subject to Notice Penalty-Winding up/ Fine Winding Up-Absence of meeting by Court

6 Directors Term –Pvt. 2 – 50 –Pub. 7 - 20 Types –First –Elected –Causal - Only for the remaining period –Nominated –Alternative – If director if Abroad

7 Resolution Ordinary –Under SECP, an ordinary resolution is a resolution passed by the shareholders of a company by a simple or bare majority (for example more than 50% of the vote) either at a convened meeting of shareholders or by circulating a resolution for signature. Filing of Resolution –15 Days

8 Resolution Special –Under SECP Special resolution is a resolution passed by a majority of not less than two-thirds of the votes cast by the shareholders who voted in respect of that resolution or signed by all the shareholders entitled to vote on that resolution. Filing of Resolution –15 Days

9 Winding Up 1.Compulsory Winding up Under Order of The Court 2.Voluntary Winding up 3.Winding up Under The Supervision of The Court

10 Compulsory Winding up Under Order of The Court Special Resolution Failure in Statutory Report, Statutory Meeting, Annual General Meeting Failure to Commence or Suspend Business

11 Compulsory Winding up Under Order of The Court Reduction in Membership Liability to Pay Debts Ceases to Enlist Just and Equitable

12 Voluntary Winding up Members Voluntary Winding up Creditors Voluntary Winding up

13 Winding up Under The Supervision of The Court Any Equitable Reason

14 Who Can Apply Petition by Shareholder Petition by Director Petition by Creditors Petition by Registrar Petition by SECP

15 Next Lecture IPO


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