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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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Hi can you advise please on the relevant company law regarding

Resolved Question:

Hi
can you advise please on the relevant company law regarding shareholders rights. I am an MD and a majority shareholder. The majority Shareholder has insisted on seeing the bank statements. What are his rights and can you confirm the relevant company law please?
Submitted: 3 years ago.
Category: Law
Expert:  Ash replied 3 years ago.

Alex Watts :

Hello my name is XXXXX XXXXX I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply as this is not an ‘on demand’ live service, but rest assured I will be giving your question my immediate attention upon return. There is no need to wait here, you will get an email when I reply.

Alex Watts :

There is nothing the major shareholder can do.

Alex Watts :

The Companies Act only allows for an annual general meeting once a year.

Alex Watts :

He is not entitled to bank accounts - he is ONLY a shareholder.

Alex Watts :

He is entitled to annual audited accounts.

Alex Watts :

You are there to run the business

Alex Watts :

The accountants would provide an audit report detailing any discrepencies

Alex Watts :

But he is not entitled to bank accounts.

Alex Watts :

There is no provision in law that allows him to do so.

Alex Watts :

Can I clarify anything for you about this today please?

Customer:

Hi

Alex Watts :

Hello

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