ACCA LW Eng Syllabus F. Management, Administration And The Regulation Of Companies - Distinguish Between Types Of Resolutions - Notes 2 / 3
Ordinary Resolutions
50% Majority needed (14 days notice)
Uses:
To allot shares
To Approve auditors liability
To Appoint/Remove directors
Special Resolutions
75% Majority needed
If passed at AGM - 21 days notice
If passed at GM - 14 days notice
Uses:
Liquidations
Change Articles
Change Name
Written Resolutions (only for Private Co.s)
Signed by members.
Used Instead of an ordinary resolution - >50% of members must consent
Used instead of a special resolution – 75% of members must consent
Removal of directors and auditors needs special notice - 28 days (so a written resolution is not effective)