How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask JGM Your Own Question
JGM, Solicitor
Category: Law
Satisfied Customers: 12088
Experience:  30 years as a practising solicitor.
Type Your Law Question Here...
JGM is online now

Thank you recent email. My query is as follows.

Customer Question

Thank you for your recent email. My query is as follows. Under section 338 3(a) of the Companies Act 2006 a public company is required to circulate a resolution to be voted on at an AGM if a request to do so is made by shareholders representing at least 5% of all shareholders who have a right to vote on the resolution.
What I want to know is, if in the absence of anything to the contrary in the Articles, does this rule apply to members of a private guarantee company i.e. is 5% of the total membership needed to submit a members resolution to the Company's AGM. If not what does apply.
William R *********
Submitted: 1 year ago.
Category: Law
Expert:  JGM replied 1 year ago.
This rule doesn't and cant apply to a guarantee company as a guarantee company doesn't have shareholders. The relevant section is section 312 of the 2006 Act which provides for 28 days notice of any matter requiring a special resolution. Otherwise decisions are taken at the meeting on a show of hands. I hope that helps. Please leave a positive rating so that I am credited for my time.