Notice requirements for debenture-holder meetings govern minimum notice, proxy rights, quorum, voting and poll procedures, and scrutineers. Meetings of any class of debenture-holders require prescribed notice stating time, place and business, accompanied by an explanatory statement disclosing material facts and directors' or manager's interests where special business is proposed; accidental omission of notice does not invalidate proceedings. Quorum and chairing rules set default thresholds and adjournment/dissolution consequences, with election of a chairman and an initial show-of-hands vote subject to the right to demand a poll. Proxies are permitted subject to form, signing and deposit rules and limited notice conditions; scrutineers must be appointed to scrutinise poll votes and one scrutineer should, if available, be a debenture-holder.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Notice requirements for debenture-holder meetings govern minimum notice, proxy rights, quorum, voting and poll procedures, and scrutineers.
Meetings of any class of debenture-holders require prescribed notice stating time, place and business, accompanied by an explanatory statement disclosing material facts and directors' or manager's interests where special business is proposed; accidental omission of notice does not invalidate proceedings. Quorum and chairing rules set default thresholds and adjournment/dissolution consequences, with election of a chairman and an initial show-of-hands vote subject to the right to demand a poll. Proxies are permitted subject to form, signing and deposit rules and limited notice conditions; scrutineers must be appointed to scrutinise poll votes and one scrutineer should, if available, be a debenture-holder.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.