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Quorum requirements set member thresholds for company meetings; adjournment and reduced quorum rules apply if absent. The clause sets minimum quorum thresholds: public companies-five, fifteen or thirty members depending on total membership bands; private companies-two members. If no quorum appears within half an hour, the meeting is adjourned to the same day next week or to another date/time/place chosen by the board, but a requisitioned meeting is cancelled. The company must give at least three days' notice of the adjourned meeting or change by individual notice or one English and one vernacular newspaper advertisement. If the adjourned meeting still lacks a quorum within half an hour, the members present form the quorum.
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Provisions expressly mentioned in the judgment/order text.
Quorum requirements set member thresholds for company meetings; adjournment and reduced quorum rules apply if absent.
The clause sets minimum quorum thresholds: public companies-five, fifteen or thirty members depending on total membership bands; private companies-two members. If no quorum appears within half an hour, the meeting is adjourned to the same day next week or to another date/time/place chosen by the board, but a requisitioned meeting is cancelled. The company must give at least three days' notice of the adjourned meeting or change by individual notice or one English and one vernacular newspaper advertisement. If the adjourned meeting still lacks a quorum within half an hour, the members present form the quorum.
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