Investment Management

The Principal Duties and Powers of Members and Shareholders under the Companies Acts 

08-11-2009 08:08 AM

Contents: 1.0 Introduction 2 2.0 Principal Duties and Powers of Members and Shareholders 3 2.1 What is a Member 3 2.2 What is a Shareholder 4 2.3 Duties of Members and Shareholders 4 2.4 Rights and Powers of Members and Shareholders 4 2.4.1 Transfer of Shares 4 2.4.2 Right to a Dividend 4 2.4.3 Shareholders’ Statutory Pre-emption Rights (Private Companies only) 5 2.4.4 Right to Participate in a Winding Up 6 2.4.5 Rights Regarding Members’ Meetings 6 • Annual General Meetings (AGM) • Extraordinary General Meetings (EGM) • Resolutions • Right to Notice of Meetings • Polls • Proxies 2.4.6 Members’ Right to Information 8 2.4.7 Members’ Powers where the Company is in Default 9 2.4.8 Right of Members to Apply for the Restoration of a Company which has been Struck Off the Register of Companies 9 2.4.9 Members’ Right to Seek an Investigation of a Company 9 2.4.10 Right to Petition for the Winding Up of a Company 10 2.4.11 Right to Petition for Relief in Cases of Oppression 10 3.0 Penalties Under the Companies Acts 11 3.1 Penalties for Criminal Offences 11 Court Imposed Penalties Administrative Fines 3.2 Civil Penalties 11 Disqualification Restriction Strike Off 4.0 Useful Addresses 12

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